I think I'd rather have phone wire in my house than the old 1939 cloth insulated BX conduit.
You get a run of that open, and try to figure out how to wire a box or outlet with it, the ground going back to the conduit is easy enough, but when the cloth insulated pair comes out it's a matter of choosing "Brown cloth turning to dust" or "Brown cloth turning to dust", or "Black, but oops... it's scorched, not actually black/hot..."
Makes figuring out which is hot, which is neutral fun.
Add to that some was miswired in the first place. So putting the tester from each wire to the conduit does not always tell the story.