i like lugs. for a lot of reasons. aesthetics and repairability among them. but there isn't anything wrong with welding; hell, as long as there is effective human quality control, i'd probably have to admit a preference for robot welds.

of the two steel bikes i ride most often, one is lugged and the other welded. i ride the welded one more, but the lugged one i'll keep forever.

given adequate quality control, a frame made with either construction method will outlive any of us.