In its day the FR arms were OK, but they have long been surpassed in terms of State of the Art. These days the better arms will be seen to have their bearings in the same plane as the LP, which helps the arm maintain steady tracking forces when playing through warps and playing bass. The best arms I have seen also have treated arm tubes to eliminate resonance in the arm tube. One of the better examples of this approach is the Triplanar.
So far air bearings in arms and tables have proven to be a failed concept- any play that exists between the platter surface and the cartridge cantilever will be a coloration (often a lack of bass, but can manifest in many other ways as well). This is why the more air pressure you put into an air bearing, the better the system sounds. The problem is you can never have enough air pressure and why an air bearing might be 'good' but never state of the art.
So far air bearings in arms and tables have proven to be a failed concept- any play that exists between the platter surface and the cartridge cantilever will be a coloration (often a lack of bass, but can manifest in many other ways as well). This is why the more air pressure you put into an air bearing, the better the system sounds. The problem is you can never have enough air pressure and why an air bearing might be 'good' but never state of the art.