Yep it's worth balancing the lack of IFE (just bring your own tablet, most people do anyway) with the unbeatable seat pitch. I know I'll always choose 34" of space in Y over whatever Virgin thinks will keep me entertained.
The punters couldn't even take a guess at the age of the frame they're riding in so as long as they have space to stretch out they won't be bothered in the slightest. The modern-day 737, while a venerable workhorse, has lowered the standard for personal space in economy class.