Vintage Phono Stage? pros and cons

Elizabeth has hit it on the head. I think if you like warm for the slant of your system, then vintage can/is better in general.

In fact, I love most of the vintage phono/preamps/recievers I have heard.

Musichead,
You are right. If you know your history, you can get a killer phono stage for not huge money. I find the best ones are embedded in top-notch preamps from the late 1970s. I have one I will be hooking up again tonight. It is a joy.
Vintage pres (with decent phono stages) I currently own:
Jadis JP-80 (euphonic)
Pioneer C-Z1 (ridiculously transparent, not "solid state-y")

A Phono Stage is the most critical unit in the whole chain. With no other unit you can win or loose so much. When it is done right, it is not a question of age.
Working on top level 1990 is still top level today (Science is knowledge ---> RIAA, precision, temperature, parts... ).
We have now a lot more units available, but only very, very few are outstanding. Nothing changed. Like a famous European Designer (Mies van der Rohe) once said: "God is in the Detail"

I had the pleasure of using a vintage Accuphase C-240 preamp recently for a few weeks when it was loaned to me. The thing is a build like a tank and i found the build in phonostage to be very good. 2 inputs, switchable headamp circuit for LOMC , loading option up to 100kohm and low noise. The only downside is some slight weakness in PRAT/drive when compared to my other stages. Definitely some gems out there.

I found an old used Audio Electronic PH-1 phono at a garage sale for $5. I am currently using a PS Audio GCPH. I had to hook this little unit to my table for fun. All I can say is wow!!! I am now in the process of replacing the caps and some of the old wire. I plan to also do some tube rolling. This hobby can be a lot of fun. I will probably have less then $100 in this great little piece.