The thing that strikes me most about these figures is the flesh tones. For years I used those recommended by GW. They look a bit too orangey for my current tastes. I have used tallarn flesh in the past, but my current method is to start with dheneb stone and glaze in some colours and shadows. I know these colour names have changed now, I will most likely use a coat d'arms equivalent.
I think I picked this up on ebay, it's certainly older than my entry date into the hobby (the early 1990's). It's not much use for a game, though I could use him in scenarios as a rescue target. The red robes seemed like a good idea at the time, it must have been near xmas time when he was painted.
I have a fancy to collect a small band of dwarfs for use in the Lord of the Rings, my favourite skirmish game of the moment. It's either them or their "taller cousins", the Rohirrim.
I know there's a lot of love out there for the old metal dwarfs, which I have never really shared. But I do recognise the charm of figures from this era.