While I generally agree vintage tends to be more desirable everything else being equal, but there are other key factors such as medium, condition and signature quality.
A vintage Mantle would be great, but if it's a scribbled signature on a stained scrap of a menu, I'd prefer a later era signed photo in pristine condition. While I understand some collectors like the gathered-in-the-wild and aged look of old ad hoc items and feel it adds to the charm, it's not my cup of tea.