Mom used them a lot back then, they do rust pretty fast if not taken care of (like my mom), and over time they would rust through. If you compare them to cast iron and you take care of cast iron they would be similar, but they do warp a bit more and they don't hold heat as much as cast iron, so you likely have to micro manage your fire more.
I am more of a teflon nonstick guy, and unless I have to sear something that will be crispy and dry at high heat, but I don't want it sticking to the pan (like turning into a stew or curry later) would I use carbon steel. Otherwise, I would use either a stainless thick bottom or a teflon nonstick aluminum. Carbon steel is great for fried rice and chicken, maybe fish if you like yours extra crispy.