Personal choice.
I quite like having a go with a woody but the simple fact is metal planes are superior in every way, with one or two exceptions. Don't let that put you off having a go though, it's all harmless fun, unless you are trying to make a living!
You're busy talking about constant adjusting, constant sharpening and little actual planing. I'm not sure you'd notice what it's like to use a plane doing actual dimensioning, and I'm not talking about softwoods and test pieces.
It's excusable for folks who were trained in the 50s/60s/70s - the plane is a small economic part of the picture, but would've been much larger working by hand.
JaK is correct that you always start with the closest sized timber if you can, but that's not necessarily practical for a hobbyist outside of whatever is available retail. One can buy and split or resaw large timber by hand, which is pleasant work, but it's not quick.
The wooden planes disappear for the most part (at least in quality) when machine planing becomes popular. Hand saws disappear in quality around when the circular saw becomes popular and can be afforded.
Richard is hitting on why nobody has seen what I'm talking about here - nobody does enough of it to know and there's no great reason to unless you like it (I like it). Volume of work done with wooden planes over several hours in anything other than smoothing will be close to double, though. BT, DT - from cherry to beech (beyond that, you pick straight figured woods, there's no issue. If you pick poorly sawn woods that are running out on the surface and would've been culled, but call that figure, that's generally something you'd rather plane off with machines. You can do it by hand, but you have to rely on the cap iron early in the process which means you aren't taking scallops out of a surface, but more like a heavy set jointer.....in wood that has no dominant grain direction. That's rough going. BTDT and learned a lesson about buying #1 common here instead of FAS - #1 common has a knot here and there, but the sawn direction of the rest of the board is a far bigger problem. For a power tooler, it will just leave questions of blotchy finishes).
Jacob, it's almost comical how you state things that are definitive and simple, except they're not actually correct. I sometimes wonder if you're playing a part and never breaking kayfabe.
re: the sharpening time - the wooden plane irons and a modern stanley iron should take about the same amount of time if one has a crystolon stone. The only case where there's a difference would be if you were constantly nicking irons and had to grind lots of damage out.
If I sharpened a woody iron and a stanley iron from start to finish stones only, no grinder, it would be - at the very most - an extra 30 seconds. Perhaps 15. But a wooden plane set properly will plane more wood with a ward iron than a veritas custom plane will with V11, and the V11 abrades less than half as fast. The iron won't plane more feet, but the plane will plane more feet - I've done the two next to each other set at about 80% max depth - for whatever reason (probably metal friction and plane design), the beech try plane will take more off per swipe with the same effort. About 40% more in thickness, and far less sole friction.
I suspect the only person on this thread who may have a concept of this difference is adam.