(You wrote: Sorry to hear that it is not a collectors item.)
Congratulations on your sewing machine. :thumbup:
The reason the older featherweights became collector items is because they are so light and have a wonderful stitch. Being lightweight makes it easier to take to quilting groups. I've never tried the new Singer featherweights, but if they have the same characteristics (being lightweight and great stitch) they will do just as well as the older ones.
From what I have heard, the big difference between the older featherweights and the newer featherweights is that the older ones are made of metal gears. This has given them a long life and they are still working even after 70+ years.
I have two older featherweights. I bought one several years ago and then later my mother gave me her featherweight. I don't use them as much for quilting pieces as my 401 and 403 Singers. I like the 401 and 403 because I can move the needle to the right to get my perfect 1/4 seam. Even with a quarter inch foot, I can never seem to get a good 1/4 seam with my other machines.