I have been recently informed, by a friend in the know, that the phrase "old-timey" is no longer acceptable to its clique of practitioners... apparently they find the phrase derogatory and prefer the simpler, shorter, "old time" music ... I'm not sure when this all began, but have noted the change in terminology dates at least back to the late 1980s... So who knew??
Anyway, as someone who's been listening to the squeeky-plinky-planky for over twenty years now, I find myself nonplussed and rather indifferent to this semantic standoff. Either this is a massive case of taking things way too seriously, or there was just nothing good on TV the night they made that one up... I am certainly open to arguments to the contrary, but until someone can actually prise out the "derogatory" content in the original phrase, I will have to simply ask y'all: "y?"