Yeah, I'd have to agree they would likely be a bit of a liability in today's age, even though I probably would carry one given the opportunity. If they were safer or superior, more guns would be produced this way rather than it being an uncommon finish found on guns from almost 100 years ago. If they're properly done though, I think they look cool and definitely have a lot of history behind them that gives them some personality.
I'd definitely prefer a factory original, but I think if I found a well done post factory that hit all of the checkmarks, I would consider buying it. An original is one of the things I think would be a great addition to any collection.