Some older wirings are still acceptable today, but knob & tube wiring is way too old, it dates even before any electrical code existed, so there may be flaws that are dangerous (like the solder and tape instead of wire nuts). On the wiki the light socket pictured could be dangerous because connections are exposed (no metallic box).
Newer wiring are safer. For example, my house dates from 1978 and most of the cables used are rubber-covered, however they are Romex cable, so I'd just need to replace the cables in the future.