Actually, Zorro, I liked your post as a usefull generalization, even while I was thinking of exceptions too (Jeunet had a real nice frame, full 531, with no hanger on the dropouts-- the model designation escapes my mind just now.) Obviously, when looking at old bikes, a number of considerations come into play, and it pays to actually look at the bikes-- otherwise, you might pass up Other Guy's Murray-- or the slightly more common but still very nice Ross Signature line simply because of the brand. Generalizations come into play at first, but a good, hard look never hurt.
I still look at the frame first and then look for overdressing after that, though. And I find odd bits of overdressing consistently enough so that it is worth a look or two.
__________________
"It's always darkest right before it goes completely black"
Waste your money!
Buy my comic book!