In all my decades of riding, I have never had a frame whose quality was not worthy of riding.
My 1974-1975 Bob Jackson is great! I'm the original owner. I don't know how many miles I have on mine (a lot) but it was good quality when I bought it and it has proven reliable over decades of use.
My more modern frames are also great!
I think the lighter, racing-oriented frames like my Bob Jackson are more lively to ride but if you want bullet-proof, with clearance for fat tires and fenders, racing frames are not the thing to buy.
Do you want a collector's item, a project bike, a status symbol,..? What do you want to show up with at your event? It's up to you.
* I vote for Bob Jackson over Mercian, as I love the coat of arms (head badge).
P.S. - Your title uses "Mercier" but your post uses Mercian. I think you meant Mercian, correct?
Last edited by Bad Lag; 11-23-18 at 01:10 PM.