My thoughts- Magnetraction is a gimmick with limited usefulness on modern track systems, and it creates some problems of its own. Unrealistic aluminum side frames prone to stripped screws, wheels binding to the frame and intermediate gears, rubbing magnets, tendency to pick up tinsel and foreign objects near the track, etc. R.I.P. That being said, I really don't like rubber tires! IMO locos should be designed with interchangeable wheel sets, with one or two extra in the box, and WE get to decide between rubber or steel. This would be easy if brands L & M followed the standard design practice in other scales and used a two-piece chassis with separate gearbox.
Re: Pullmor/universal motors, I wish Lionel HAD engineered a 5- or 7-pole armature, revised commutator, etc. I'm sure performance would be competitive with modern can-motored stuff. Philosophically Marklin's product portfolio, tradition of durability and serviceability, and product development trends have closely paralleled Lionel's. Marklin also used open-frame motors for years. In the late 1990s they introduced an upgrade known as the "High Efficiency Five Star Propulsion System," consisting of a new 5-pole armature, circuit board, etc. Eventually they also tried an electronically commutated ("brushless") motor known as the Softdrive Sinus, to mixed reviews. Google these to see what I'm talking about.
Jim Bunte suggested a redesign of the Pullmor motor way back in 1992, at the dawn of the "scale era." When Lionel announced its Century Club and Postwar Celebration series I had high hopes. It's still possible, but now I'm looking to the aftermarket for this kind of upgrade.
Some locos with universal motors do perform very well. I once tested a Lionel 763 chassis which had been remotored with a 7-pole open frame motor dating from the '30s or '40s. It ran great!! The biggest problem with "traditional" locos powered by universal motors is their GEAR RATIO. With only seven torque pulses to the inch, at slow speeds the motor is eventually going to stall. The 773 with its mellow 18:1 worm gearing, and dual motored diesels with twice as many power pulses to the inch fare much better. A self-locking single screw worm isn't a good idea though. The momentum of the train helps keep things rolling smoothly. The fact that Lionel used back-drivable gears (and has recently reverted to them in Legacy products) means that two motors can "help" each other. For this reason among others, I would pick a 2343 over a Williams or PS1 MTH diesel with two vertically-mounted motors.
Pittman motors aren't all bad either. Most of the ones I've seen have seven poles and a replaceable brush cartridge (although it's doubtful that any home user would accumulate enough hours to require a brush replacement.) Lionel's custom developed Pittmans with their 15- and 24-volt ratings perform more realistically than the rock-stock 12V variety that you often see on a popular auction site. And as long as the worm gear isn't pressed onto the motor shaft, replacing the whole motor isn't a big deal. Good discussion all!