At one point in the 1990s I had a single digit handicap. I returned to golf two years ago after my son left for college. I have played with various clubs, including very unforgiving blades. I played the best golf with the 845s. I have been struggling with my newer Ping S-58s (more blade like) and played golf at an excellent and expensive golf course several weeks ago. My playing partner that day was an excellent golfer, long and accurate off the T, who had been a club pro when he was younger. He played from the tips and shot 2 over for the round using the same 845s I had in the 1990s. I pulled out my old set and have played them a couple of times now - they are great and there seems to be only a little difference between these and other more current model clubs. They have more offset than what I am used to - are heavier - seem to have have a little more vibration - and I hit them higher. But, they also appear to go a little further for me (even though my newer clubs have less loft (e.g., 48 PW for the 845s versus 46 or 47 degrees)).
These are very good clubs that sell for low prices because they are older. But, they are quite forgiving and perfect for high to mid handicap golfers. And, as my playing partner demonstrated, good for some great golfers also. They also seem to "fit my eye". Like other game improvement clubs, however, they may not prove as nimble in "working the ball".
Of course, there is the fashion element. Sitting in your bag, they are not the "latest and greatest." But, they are better than great looking clubs that you cannot hit. From a utility perpsective only, given their current low prices, it should be hard to justify paying for the marginal difference for newer clubs.