Dave,
I'm sure the pre-1991 models are nice basses, as you say. Unfortunately, most of us will never get our hands on one.
This being said, I've never played a Warwick I thought was worth a damn. They're heavy, sound and play horribly, and well, they're designs aren't something I care for personally. It can't help that they're the bass of choice for metal or modern bands - it plays into the Gutiar Center reference you refer to, e.g., if my bass hero is playing one, I need to get one. This is nothing new - I bought a Rick 4001 as a teenager because Geddy Lee played one.
Now, most of my bass heroes play other basses (Jazz Bass, Rickenbacker, Gibson, Musicman, etc.), and I have basses from those manufacturers. I bought those basses in part because my bass heroes played them. This being said, if it played and sounded bad to me, I wouldn't have bought them. If Geddy, Stanley, Jaco, Greg Lake, John Paul Jones, Victor, etc. were playing an Ibanez, I probably try, but not buy one for the same reasons I don't play Warwicks.
In any event, if someone likes Warwicks, more power to them. You'll never see one strapped on me, however - my DW blows the doors off of every Warwick I've ever played, IMHO. To each his own, I guess.
Alan