Steel rims pretty much went away in the early 80's far many good reasons, most of which were mentioned already. The only reason I can see for going to steel rims if you might be restoring a 70's and earlier bicycle.....for dislay only(?), because the biggest reason not to use steel is their poor braking performance in the wet which despite of many efforts to improve with patterning or dimpling of the rim braking surface only made for very slight improvements (if any) in some cases.
Chombi