Just a small anecdote (okay, actually two, I suppose).
I had my '69 Peugeot mixte project out in the driveway the other day, and one of the gaggle of neighborhood kids at our house playing with our kids said, "woah, cool bike, is that yours?" Except for my '97 Trek 750, this Pug stands out as the only bike in sight with chrome and bright shiny bits and actual "art" to its design. Even a 6 year old can see that. All their bikes, including my own kids' bikes, are modern steel or aluminum with black or dark trim and components.
And today, I "finished" my Pug project, at least for now. I've gotten most everything set and it's street-rideable now with 700c alloy wheels (replacing the old steel 27" ones). I also have a vintage high-rise stem on it and a Postino handlebar. It really looks nice and rides beautifully. Pics in another thread later, but my 12 year old daughter came out and wanted to ride it. I set the seat to her level and I haven't seen her since. I think she likes the friction shifting on it. She can ride no-handed very easy. The bike just has a beautiful balance to it. It's legitimately fun to ride, and not in a "drunken laughter flying down a single track hill" kind of way, but in a "modern bikes just don't feel like this" kind of way. It tickles me that I bought this Peugeot project because I wanted to try an old mixte, and now my 12 year old has apparently taken it as her own.
Even kids know class when they see it.