I've driven some of those old things. They can be pretty fun - but you gotta know where the limits are.
My dad and I had a 1950 mercury - wish we still had it, but no power brakes, no power steering, no synco-mesh on first gear, suicide doors, and no seat belts (we added them) made life interesting. Still, nothing was better for cruising down the road on a saturday night.
My dad also had, er, several Cadillac eldorado convertibles. Those had a 502 Cubic Inch motors and would spin the tire like no ones business. Strange thing was they were front wheel drive, which made spinning the tire kinda, well, interesting. Still, with the top down on a sunny day, nothing was finer.
My first motorcycle was a 82 suzuki GS that had been slid down the road a time or two. When you changed lanes, you'd get a pretty interesting wobble. It would also get sideways pretty fast coming out of a traffic circle (roundabout to you UK folks). Still, Burnouts? no problem!
Fun times, but makes me appreciate my golf with a 5 speed, 4 disk anti-lock brakes, traction control, and controllable power. Not much power mind you, but it'll go down the road.