I borrowed an older copy of PS (v1.2 I think) off someone on just 3 or 4 floppy-disks!!!!
Runs like a charm on my ancient laptop, while I cannot even get anything newer than FS98 to run on it from the microsoft stable. Easy choice I'd say.
And still: MS FS2002 is indeed still a toy. Flight dynamics often a shambles, system architecture missing, or a sorry spin-off from a Cessna system etc. As I'm not playing with FS2002 regularly this may have improved, but I'm guessing it won't come close to the options and accuracy of PS1.3.