Over the last 4 years, I have flown with EAAC on several occasions - all private charters and have found them to be fine. Yes the preference would be to fly on newer aircraft, but the 200's are OK if not a little noisy. The interiors are always clean, and more importantly the crew have always been polite, friendly and professional.
The role of providing "ad-hoc" charters is a difficult one - you don't always know where your next job will be or when it will come. EAAC carry out some regular charter work, but without the ad-hoc side, there would be many flights that possibly would have been cancelled which EAAC have operated. G-MIDJ and if the choice is 737-200 or no flight, I'd take the 737-200.
I hope that the takeover by Bath Travel will not change EAAC to just another charter airline - its services are needed (even with older a/c).