I agree with Nemrod. Snorkelling back then was all about having fun too, as this photograph from Peter Small's "Your Guide to Underwater Adventure" (1957) illustrates:
The caption reads: "If underwater swimming is not fun, it's not anything". Modern developments such as "free diving" suggest more "points-scoring" than simple recreation.
As for good old-fashioned oval masks and rubber full-foot fins, you can still get them today fresh from the manufacturer. My current favourites are my Mexican-made Escualo Clasica fins and blue-skirted Ixtapa mask:
Blue certainly makes a change from the usual choice of clear and black mask skirts nowadays!
As for orange fins, they're still in production too, e.g. Greek-made Eurobalco Sprints:
They're wonderfully comfortable, broad-fitting rubber fins, popular with European swimmers in training.
I also agree with Slonda828 about the Hydroglove suit. Mine keeps me dry and warm during the spring, summer and autumn months when snorkelling in the cold waters of the North Sea, without binding my arms and legs in the way some wetsuits can do.
On the general matter of vintage versus modern diving gear, I recall an early 1980s TV series here in the UK designed to introduce the microcomputer to the widest possible audience. One of the presenters, a guy with great "people skills" as well as computer expertise, produced a fountain pen, emphasising how important it was not to buy wholesale into everything modern just because it's modern. He insisted that everybody should retain, and continue to use, at least one item dating from an earlier technology, such as his favourite fountain pen. Well, I do enjoy using the latest computer technology in 2009, but I also enjoy retaining, and continuing to use, the kind of snorkelling equipment prevalent from the 1950s to the 1970s because that's when I first developed my passion for breath-hold underwater swimming. It's my link with the past. I also associate the natural materials from which vintage diving equipment was made with quality. They're live, tactile, odorous, multisensory materials, unlike the ubiquitous synthetics used in today's gear, which to me represent something sterile and dead.