Paul Cassel wrote:

Specifically, is an older (20+) years frameset dated? Does it work less well compared to a newer bike?

There are pros and cons to using an older frame. Not knowing the
specifics of this particular frame makes commenting difficult. Can you
post a photo?

I wouldn't worry too much about weight. What matters is the combined
weight of the bike and rider (and the bike is a small fraction of the
total).

It's possible that this frame has a somewhat longer wheelbase and more
tire clearance than modern bikes, and those are good things. I happen
to like the looks of lugged steel frames.

Modern bikes will have more gears, and brake/shift levers that allow
precise shifts without taking a hand off the bars. An old steel bike
can be retofitted with a moden drivetrain and shifters.

If you like the frame, if it fits you well, and if the price is right,
buying it could be a smart move.

You should probably visit a LBS and see what's available new before
making a decision.

Art Harris