If I delete content from my site, will it go down in rank?

Lets say I make a lot of content for my site, lots of spinned articles and then replace them with something else. Will that make my rank go down?

You will got sandboxed for the first days, but if you do it the right way, with 301 redirects from the old content to the new, and if your new content is unique with as much keywords as the old one, you may regain your rank after a few days.

If you already rank with spinned articles why would you replace them instead of just adding more?