Yes and no. You wanted to play lots of cheap black creatures so you could easily drop your hand, refill and do it again if necessary. The pump knights really were the most efficient way to do that. Also, some of the weird 1of choices were due to the whole 'minimum 5 cards from each set' rule. Ihsan's shade, serrated arrows, Autumn Willow, etc.. were all played to fulfill the 5 cards from homelands.
That said, yes, general magic knowledge was not as refined back then and there were odd cards choices in even the 'best' decks. I still like the version of necro that won nationals that year that splashed red for lightning bolt and other direct damage, and dropped the nevinyrral's disks.. his theory being, if I can refill my hand once, you should be dead anyway. Plus, he had some land destruction as well.
It's funny how certain cards were completely overlooked for so long too, portent being a good one. But, considering no one even played brainstorm for a long time, and portent is worse then brainstorm, it's not surprising either.