Chris - all this is true. However, two things about white metal to keep an eye on:
1) the thickness of the white metal - often its too thick. Word is that .5mm is about idea. Don't know if that's right, but query your source, and check after they are line bored.
2) the issue with older white metal, especially on big-ends, is the delamination from the rod cap, especially with age.
Your points about absorbing dirt is right on. Some folks with older 1930s cars like to stay with white metal - Colliers runs their 8C on these. My s.2 B20 runs shell bearings, changed oil pump and filter (now a spin-off), without issues.