I'm not sure what relevance your comments have to the tested article? You don't seem to have any particular questions, it appears also that you've not so much as ever shot a current production Model 37. "Your" 1951 Ithaca was not the subject of the review, of course. You may well love your honey-dipper 2-3/4 in. fixed choke old gun, but there are several reasons for referring to the current Model as superior.
As far as "disappointed," well-- it sounds like a few clumsy gun-shoppers need to learn not to inflict rack-rash on new guns. Wood is just wood-- the originally tested Ithaca had fine-line checkering, was shot very hard, but had no signs of wear. Those looking for "highly polished plastic made by old world craftsmen" have other options.
Ithaca's have never been cheap-Charlie guns; they are costly to make. The current later 2008 dollar bill equates to only about 14 cents in 1951 dollars. Compare, and you just might find that the Ithaca Model 37 is a better value right now than it was back then.
Sure, it IS better. It is better machined, with better equipment. The barrels are substantially stronger, and the integral barrel lug is a quantum leap ahead of the old solid rib and vent rib models-- whether roll-stamped "Roto-forged" or not-- where most were plain barreled versions.
The current Ithaca of course is screw-choked, and steel-shot compatible. It certainly makes it a more versatile shotgun, and whether we like it or not "no-tox" is here to stay. Along with that you have 3 inch chambers-- desireable for heavier payloads for turkey, wild pheasant, or just for moderate 1 oz. no-tox loads for decoying ducks. The shells this shotgun dropped my roosters with so efficiently, a 50's Ithaca cannot even fire. The barrel twists off with no chatter or slop-- that is modern machining not generally available in the 50's. I don't know what your issue is with the engine turned bolt, but everyone who has gone over it feels it is a touch of class.
As for the wood, it is certainly far better than average walnut, though if it is furniture that you want-- it is certainly available. Grousen's latest guns are stunning examples of what you can have if you'd like.
Moreover, the problem with 50-year old "anything" is that they are no longer produced, and not generally available new-in-the-grease. Factory service, support, and warranty are often non-existent.
After 2,000,000 or so Model 37's produced, they are hardly obscure or unappreciated. What happened, though, with year after year is that corners were cut-- well-evidenced by roll-checkered shellac-coated Model 87's and the sometimes crude, very crude King's Ferry output. The cut game-scene engraving gave way to rolled engraving, and I can personally attest . . . quality control and customer service vanished. Nor were my King's Ferry guns steel-rated as supplied-- mine came with "lead-only" Colonial tubes.
With a history going back to 1880, we should all be glad that the magic is back in the Model 37. Too often we pay only lip service to our wish of quality-made, American made firearms. Guns get evaluated and graded on what they do, either way. That was the case in GT; that is the case with the review cited here.
It's not often that a very young company is responsive enough to make quick changes to better their product. Ithaca did just that, and they deserve recognition of that.
For a long time, over and over again, folks have asked when they can get a "really good" new Model 37 in 12 or 20 gauge. The answer is right now, anyway you want it . . . your own engraving pattern or a custom stock if you wish. That's a good thing; there has been no reliable production of Ithaca Model 37's since 2005 when King's Ferry folded up-- and it wasn't exactly reliable or good for years prior to that.
That's all a good thing, as far as I'm concerned, a very good thing. Nostalgia and "lifetime guns" are all well and good-- but many shooters look for current product that will serve their needs for their lifetime, not somebody else's.
I, for one, am delighted that Ithaca is back and busy shipping out quality guns. Who wouldn't be? They've never been more precisely machined, they've never been stronger, they've never more versatile, and they've never been made from better materials. Best of all, they've not been this readily available for several years.