I can't speak to the quality of this version or what is considered 'out-of-date', but I don't think a translation necessarily needs to be recent to be well done. I recently read the A. T. Murray translation of the Odyssey from 1919 and enjoyed it immensely. I can also heartily recommend the Lattimore translation of the Illiad from 1954, though the more recent Fagles translation is great too.