I collected most of my Craftsman tools during mid-80's to the mid-90's, and the quality was still pretty good at that time period. What I don't know is where I would go to buy new stuff now, Craftsman is junk and Snap On is expensive. What's a decent tool that one can buy now that approximates the old Craftsman in quality?
Well, I won't go as far as to say ALL Craftsman is junk. I actually like a lot of their "Craftsman Professional" line of tools, which seems to be built a little better. The majority of my ratchets/sockets are Craftsman, and I have no complaints there, as I've never broken a socket. My father has a bunch of Craftsman stuff, including a decent size 3-pc rolling tool chest. The Craftsman tools he has which I dislike the most are his screwdrivers, and that's only because the hard-molded plastic handles tear up your hands if you really have to crank on something. I much prefer my Kobalt screwdriver set.
Some people are brand-loyal to the end. I buy whichever brand has the tool when I need it, and with the best function/feel. I've never had to use a warranty on any of my tools, and rarely had a tool fail. I can honestly only think of two failures: a Dremmel (was using it for extended duration, melted the motor), and a Craftsman Professional 1/2" corded-drill, which I was drilling holes in railroad ties with and burned it up (again, a bit beyond it's design).
I have brands like Rigid, DeWalt, Milwaukee, Craftsman, Black&Decker Firestorm, Kobalt, Harbor Freight, Hitachi, Stanley, Et al. in my shop, and they all do their job well. If you need the security of Snap-On or Mac Tools because you like them, or make your livelihood with them, power to you. I don't use them except on weekends for general R&M and house projects, so I go with what's of moderate quality and available locally at the big box stores.