Having frequently observed in the simulator experienced captains and copilots making a complete hash of raw data non-automatics instrument approaches to the extent they would fail any reasonable instrument rating, it is obvious their logged instrument flight time on automatics was worth exactly zilch in terms of skill.
Flying has evolved a bit since 1951...
You confuse 2 different issues: The logging of experience flying in IMC and the ability to hand-fly approaches in a degraded mode in some airplanes. For the first issue, the recent and current regulations are clear -- logging of instrument time does NOT depend on whether automatic pilot, flight director, FMS or other aids are used or not. They ONLY depend on the visual conditions and whether the pilot is the handling pilot.
HOWEVER, I do agree that even in this day of fully automated cockpits, it is essential to maintain proficiency in flying by ALL the available modes, automated and manual. I have recent experience in both the 744 and 747 Classic, and there tends to be one chief difference in handling philosophy taught: In the 744, the handling pilot is expected to "properly" use the automation to assess and resolve issues with real-time navigation; whereas in the 747 Classic the pilot is expected to monitor the available automation and be ready to take over manually if a problem arises. Still, in either case, the same Situational Awareness is required, and the pilot is expected to make use of the instrumentation he has.