Hey Kevin,
I'm going to say you are right as far as what you are saying (about conversions). For me the difference is, the conversions of old were chambered for the "current" cartridges and cartridges them selves were in their infancy. Fair enough.
I personally don't want to load rimfire cartridges, outside lubed cartridges and the oddball cartridges, I'll stick with what they did originally and go with what's current, easy, and most of all, safe! Safe would be including modern ordinance steel that will let you "play with loads" safely. No ruffled feathers here! In fact, no matter what anyone says, my "modern converted" revolvers are my most favorite revolvers I've ever owned. And that, to me, is what trumps "exactly copying" for the sake of " the way they were back then". Would you feel better if you shot inferior materials when better is available? Outhouses are still available and in use in places, but I've never had one at home and wouldn't. Change is, more times than not, better if only safer. I know some old timers argued that they would never poop under the same roof they ate under!! ( come to think of it, depending on the area the roof covered, I may not either!!!)
On the firearm note, you make it sound like folks that assemble/make their own firearms as somehow "shady". There is nothing wrong (or illegal) with a person manufacturing their own firearm! You just have to register it if you sell it, and/or you must get a manf.ffl license if you intend to sell / distribute your manufactured firearms. But, it is nice to know that if the real " Goons" ever go door to door "collecting " the guns on the list that you filled out paper work on at purchase (which is to me an infringement!) I'll at least have a few things better than a stick or a rock to take back my government!! When your government makes it law, that you are a criminal if you want to protect yourself and your loved ones (even from government) they cease to be your government and they become your master. This is the sole reason the 2nd Amendment exists!!
It doesn't scare me WHO might have a firearm, I fear the "WHO" that wants to take mine away because someone else used one in a crime.
So, on that note , maybe only slightly ruffled!! Lol! Anyone can think what they want, its when they "force" their belief on me that things could get ugly.
Mike
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