When I read threads like this I wonder what you guys use your bikes for. When I were a lad I made a bike from found items, some were found on the river bank some in the river - and all serviceable. It seems self evident that if it is your intention to leave your bike in your garden for twenty years then rust proofing could be a priority, if on the other hand you want a bike that offers a smooth ride then using modern materials may be the way to go.
Notice in that last sentence that I emphasized 'ride'?
Most questions regarding choice can be answered here.