What is the fascination?

I have not listened to the Pickering yet.  It just sort of hit me in a way when I received it that you really are taking a serious risk with some of this stuff.  I am not saying that there is not any quality gear out there from yesteryear, there certainly is.  It just that you are taking a risk, a big one in some cases as older Micro Seiki tables as some of the members have are just very expensive for a used table, especially if you do not know the owner that had it last.  Even investments of 2 to 3 k for a table going on 50 years old is taking a chance.  Motors burn out, can you still get support and parts for it? etc.

Saving money is not the only reason to refurb an older idler-drive table. Some folks just enjoy taking something old, and making it new again (relatively speaking). I restored a Garrard 401, and mounted a Dynavector 501 (also a DIY restoration) on it. Both are built like a tank, and sound, I think, extremely good.
 
A goodly part of my system was either built or modified by me, and I find that highly satisfying. Oh, and I did save some money, too.

Enjoy,
Dan 

Unless some particular vintage gear is one’s fancy I see no reason.
For example, nobody wanted idler drive tables back in the golden age of vinyl. Now there is a cult built around restoring and enhancing them. Maybe you put enough into one and do it right it sounds great but you can keep it.


Then again my Linn Axis is over 30 years old and still going strong. When the time comes to replace it, I will consider new well reviewed models that I can afford.

Nowadays I mostly only play a record once anyhow when I get the urge and immediately convert it to digital and store it on my music server where I will go to listen to it when I want from then on.
If you are still a dedicated vinyl lover, then God bless ’ya. Heck I’d love to own a genuine Gramaphone or similar retored original device to play old 78’s on. A Blast from the past!

You really need to listen to a Garrard 301 or 401 with a good tonearm and plinth to understand the sound and appeal. I have a Garrard 301 and now am done looking for a different turntable. I have had Technics, Thorens, Basis, Michell, Rega, and others.

Ignorance is bliss. 
For (some of ) those of you who replied to the OP, expressing opinions based entirely upon blind belief and your sense of the world is a waste of your time and ours. 
The OP asked a loaded question with "fascination". 
Art Dudley recently wrote a piece for S'Phile in which he referenced the fact that he is frequently asked for a recommendation of a modern table and he can't come up with a single recommendation. 
We're not talking about Space-X and DNA-cloning cutting edge technology here. It's a matter of craftsmanship. My Thorens TD124 with a Reed 3P arm (OMG, the arm is largely made of wood!!!!) blows away my VPI Prime with 3D arm. There is simply no comparison, either in SQ or price. I have 13K easy in my Thorens and $5500 in my VPI Prime with a second 3D arm and Phoenix Engineering Falcon and Roadrunner. The Thorens has a huge custom made double-bearing (bearing on bearing) main bearing. The motor is probably three times the size and 10 times the torque of the VPI unit. Everything on the Thorens can be taken apart and rebuilt including the motor. The Prime motor is disposable. When it goes bad you throw it out and buy a new one. My restored TD124 will go another 50 years easy. It is built like a tank. 
I am not saying the Prime is junk. It is very high quality. But if you hold it up as a gleaming example of high quality modern day technology and manufacturing, it does not compete with the best Swiss technology from 1959. 
Back in the day of vinyl's golden years and vinyl playback for radio, the word "transcription" was analogous to the term "chronometer" in high-end watches. There were stringent specification standards to meet. Listen to a fully restored deck and then express your opinion.