Nothing wrong with old school, and if you have an older steel frame bike that works for you no reason to change.
However, there are some modern-er bikes that have some advantages for the aging/achey crowd. You speak of "race-type bikes" - but this is a trend I see changing quickly. Even just 5 years ago, most road bikes were tour-type racing bikes, or cheapened versions of racing bikes.
In the past couple of years, there's been an explosion of road bikes better suited to folks with more aches and pains or less intense fitness level.
One of the leaders in this trend is Volagi; I bought mine 3 years ago because it was the only bike like this on the market. Now I see more and more of the big bike companies making Volagi-esque bikes.
Volagi Cycles | Endurance Bicycles and Components