Yea, REVOLVE is a bit outdated, but I find it's better if you draw the pipes in pieces, since you can still use grip edits on the revolve'd section geometry. It's also a more intuitive and fail-safe process because there's absolutely no way to NOT be concentric about the pipe axis. Concentricity is the first feature of importance, rather than absolute diameter, for the most part, in what we do. So using a method that fixes concentricity in a fail-safe way is more logical, to me. And with piping, there's nothing that's not circular in cross section, so there's not terribly much benefit to Loft.
Additionally, with loft, there's no -good- way to take a hard 90d turn in your profile. You can't have two cross sections be co-planar, I mean. You'd have to have one nudged further along the loft path by 0.001" or something, and I just hate "faking" features like that. It's no -real- issue, I just hate 'tricking' Autocad into doing things right.