Back in the day 3 inches was a big drop for recreational riding. 2 inches was more the norm.
I see lots of old steeds with 3+ inches of drop. To me, it looks funny as I rode those bikes when they were new (and rode with others of course) and 2- 2 1/2 inches was all anyone ran before moving on to a bigger frame.
Time and fashions change. But the bend in your spine doesn't. If I had to choose between two vintage bikes for a century tomorrow I would pick the 2 inch drop over the 3 inch drop every time.