So I have my S&W LW Commander with all the bells and whistles; I like it.

And I have my 1991 .38 Super that I've made as close as I can get to an old school A1 Super; I like it.

Aesthetically I prefer the old school gun. Functionally, I see the advantages of the newer style, but I don't think the difference is all that big. I actually shoot the Super better than the Commander. But that may be accounted for in full size all steel vs. Commander aluminum, and Super vs. 45.

Regardless, old school 1911's are just as deadly today as they were 100 years ago.