Thank you all for replying. Some very astute and interesting comments and questions.
To all who either haven't hit a persimmon headed club for a long time or are of the generation that haven't had the opportunity, I suggest you beg or borrow some and give them a go. The sound of a well struck shot coming off a wooden head is wonderful. If you don't have access to some then there are classic MacGregor eye-o-matics, Hogan speed-slots, Powerbilts, Tony Penna's, Joe Powell's etc out there on ebay at what seem reasonable prices. To any who have never held or even seen a persimmon headed club when you see the face close up you'll immediately realise where the phrase 'out of the screws' came from. My own persimmon driver, which I had custom made, is 10.5*. Exactly the same loft as my current titanium 460cc headed graphite shafted beast, but as has been mentioned, the loft on an old wooden driver appears visually to be much less at address as the face isn't anywhere near as deep as the modern driver.
Interestingly, wooden headed fairway clubs don't seem to play that much differently in comparison to the modern metal headed ones, certainly not as different as old-vrs-new drivers play. I guess this probably has something to do with weight positioning, but I'll let the techies argue about that. One thing I do know for sure though, is that the modern titanium driver is soooo much easier to hit off the fairway than an old persimmon driver.
Such a shame that the old balata balls are no longer readily available and that ones found in practice bags/cupboards/garages have probably 'gone-off' a bit in performance terms by now especially as there shelf life was never supposed to be very long. It's very difficult to achieve a really true comparison without access to quality balata balls, which, as has been pointed out, did fly differently to the modern ball, having different spin characteristics etc, unfortunately more side spin as well. Indeed, I can still recall balls being sold wrapped tightly in sticky paper, I expect others can recall this too.
As to forged blades, ah, that special soft feel in the fingers when a shot comes out the middle, but oh, that tingling you got right through all your fingers and up your arms when you hit a thin one out of the toe, especially in the winter time. I'm not sure the performance aspect of quality modern made blades has changed that much but the grooves on new blades seem more consistent in terms of spin and modern manufacturing processes should mean closer production tolerances so sets ought to be better balanced.
And then, as has been mentioned, there's that wonderful weapon......the 1-iron! Lee Trevino's comment/joke about only God being able to hit a 1-iron is incorrect. Almost all the single figure players I know/knew used to carry one, I certainly did, and I still have it. Quail high in a wind, no problem. A great club for links or heathland courses, often used off the tee in the days when a driver from the tee wasn't the best play. Sandy Lyle, now there was the master of the 1-iron in the 1980's-90's - although many players like Sandy, Woosie, Nick Price, Bernhard etc seemed to use a Ping 1-iron rather than a blade. Indeed, I remember that Faldo and Daly had 0-irons made for them, zero-irons. Not sure what loft they had, maybe it was a branding gimic, anyone know anymore about this?
As to playability and score, well on a big long course, especially if it were a parkland or a generally lush style course, and one where flighting the ball high and stopping it quickly is important, there's no doubt in my mind that modern 460cc titanium heads, graphite shafts and cavity back irons have the edge, a considerable edge in scoring terms I would suggest. However, on a shorter classic style course, or a very firm and fast course or where there is a premium on keeping the trajectory lower with the potential to play numerous half or three-quarter shots that you wish to chase or finess or release into very firm greens then it would probably be blades and persimmon for the better ball striker I reckon, but, without access to quality condition balata balls of the specs from the 80'-90's it would be so hard to prove this, so this is just my gut feel and instinct. The width of the sole and the amount of bounce is also key in terms of playability, wide flanges and a lot of bounce being difficult to finess from firm/hard ground and very short grass, which I guess is why most top players seem to prefer to use blade or semi-blade style wedges.
Although I've not been to them, having only seen photos and read comments etc, but I suspect that persimmon and blades might be absolutely terrific fun to play with at places like Barnbougle/Lost Farms, Bandon, Sand Hills/Dismal River etc, this is only my suspicion though and then played perhaps off more forward tees. As to elsewhere, well I've already used them at most British Open venues, and I'd really like to use them at a course like Askernish too (as I would hickories for that matter).
If you've never played persimmon headed woods (and older blades) I'd very much encourage you to give them a go, even just for a few holes.
All the best.
PS - One thing I forgot to mention was how difficult it now is to get a persimmon headed club repaired or refinished. Once upon a time every shop pro and assistant could do it, and I know that some still can and that there are specialists about who are able do this work, but it seems that not many pro shop folk under the age of about 40 seem now know for example, how to re-whip the twine/thread where the shaft joins the shaft and there was always real care and skill in refinishing a wooden head, changing an insert or a sole plate and the removal/re-application of finish. Such a shame. A kinda lost art, even more so when those who are now 40-ish retire in a couple of decades time and their skills and knowledge pretty much retires with them.