Yeah, but the thing is, everybody's talking about "unmolested" and "properly done" knob and tube. When is the last time you saw a system that followed that? All the knob and tube wiring I've seen has been scary as hell. Yes, that was due to what had been done to it, but still.
You're talking 70 years of idiots changing it god knows how many times. I have the early romex that's insulated (still fine) and has the cloth binding to hold the wires in a group (whatever it's called). I'm rewiring the house. Is the wire itself bad? No, but there's no grounds, and what has been DONE to the wiring is downright atrocious in places.
One breaker will run a bed room light, 2 of the 4 outlets in another bedroom, the dining room light, an outlet in the kitchen, two outlets in the den, and the garage door opener.

Seriously, wtf?
I found one circuit to have 96 volts on it while the others have 118.

Yeah, that breaker is off until the wiring is redone.
While the basic principle of knob and tube may not be bad, almost every existing installation of it is, from what I've seen.