Wow! I cannot believe the difference in approach. I have already decided on my final collection of five pins: LoTR, FT, MM(r?), JP2/GZ [the 'Elwin' slot] and BK2000, with a possible sixth entrant - Black Hole, WH20 or Hurricane.
It will probably take us the next two to five years to assemble that collection.
I can't see myself getting distracted by the 'new hotness' when there are stone-cold classics that other people have owned and played for 30 years.
It depends on what you're talking about. There are super-mint reconditioned vintage pins going for £4-5k, including new playfields, powder-coated armour, colorDMD, LEDS - the works. My LoTR is in excellent condition with only three HUO owners from new. I wouldn't expect to pay £5k for something that had 'been through a war'. Even my FT, which I got massively overpriced from a retail seller, was only £3k! It's also perfectly playable and, although it could do with being re-decaled - it doesn't look like it's 'been through a war'.
I do take your point on the warranty TBH. I don't see the point in waiting for someone to fix my pin when I can fix it myself, and most parts are cheap except for the Spike II node boards. If you buy something new, you're not guaranteed it will be playable out of the box or won't have early-life failure. Personally, I prefer if someone 'wears in' a pin before I buy it, and also that they take the 'depreciation' hit from new as I'm not interested in keeping up with the latest crazes.
I do think, if people are dismissing vintage pins, you're missing out on a lot of great fun stuff. I've played stuff from the 80s that is better than some modern Sterns. And, likewise, I've played modern Sterns (Elwin) that are among the best designs of all time IMO. It just seems a shame to have to populate your collection with entirely new stuff - you're really missing out.