It's quite possible to use generic transistors in... most anything below VHF. The main differentiators are overall ratings, hFE, and testing.
Ratings:
- Ic and capacitance are ~proportional.
- fT tends to decrease with higher current ratings (except for special types).
- Capacitance decreases some with increasing Vceo.
Testing separates parts by hFE, Vceo and noise:
- Within a process, hFE varies over a pretty wide range, so there's test selection within one process already. (Different processes can achieve different ballparks of hFE.)
- Similarly, Vceo varies, so can yield a range of parts after testing (e.g. TIP31A/B/C). This is more reliable these days (i.e. since the 70s, I suppose) so you don't see consecutive parts in a series of Vceo's so much anymore.
- Noise depends on process and purity, and can vary from part to part, so good parts can be tested out as well. Not that the noise is necessarily particularly good on those parts, anyway; perhaps flicker noise is tested out, but r_bb' might still be objectionably high, limiting the wideband noise factor.
What you definitely won't get, is bandwidth or noise performance in a given power budget. 2N2222 or 2N4401 is a much larger junction than 2N3904, so you need that much more bias current, to achieve the same bandwidth.
And neither one has terrific fT. Enough to scratch the bottom edge of VHF, but certainly not even enough to oscillate in UHF, let alone do useful work up there. (Aside from peculiar operating modes, like avalanche breakdown -- which can produce sub-nanosecond edges, but isn't proportional in any meaningful way, and definitely doesn't have the bandwidth, as the pulse repetition frequency is sub-MHz).
Not that junction size is, by itself, a contraindication of noise performance -- indeed, large junctions act to spread out random fluctuations. Low noise op-amps use extremely large input transistors (often taking up 25% or more of die area!). Some particularly low noise transistors (mind, in terms of e_n) are rated for several amperes (a few ZTXxxx parts, a few power transistors -- but again, they must be tested and selected for low noise), and this can be had even at relatively low Ic (say, 10s mA, compared with the 1A+ rating).
All a matter of what you're doing.
Tim