Veloh, My mind's eye sees an older craftsmen dressed in dirty kahki pants, a sleeveless shirt, bicycle cap, filthy hands and an obligitory unfiltered cigarette hanging from the lips while sweating the details of installing some tubes in a jig. Probably nothing is further from the facts than my version of history.
I think that to some extent all frames are handmade, just not by the same craftsman as it graduated from one manufacturing step to the next. I remember comparing my '80 RRA with a friend's new Italian (Ciocc, maybe) racer in the early '80s. The level of craftsmanship was very much the same even though his bike had much nicer of everything. This was a little surprising to us both.
All in all PS' reply hit the nail on the head.
Brad