You can yammer on about using the same technology since the model t, but really that's a floppy point. Why are we still using wheels to move things around with, that technology is WAAAAAY older than the model T, and all we have done to the wheel is give it more grip.
The simple answer, in my opinion, to your question about using "old" technology is the same I would give the wheel. It works, and works pretty dang well for what we ask of it and no one has come up with anything better
that WORKS (meaning, it is powerful, efficient, compact, easy to utilize, inexpensive to maintain, etc.).
The engine is here to stay until technology moves far enough forward to make alternative sources of motive energy available that match (or beat) the internal combustion engine. Yes, there are zero emission vehicles out there, but, are they really truly practical? And by that I mean is it something you can quickly fuel up (or energize or whatever), give you the power that you need for your application (sure you can build a zero emission commuter car, but what about a zero emission tractor-trailer rig, or bigger??), and have the durability needed to go hundreds of thousands of miles. The short answer is, right now, no.
Fuel cell technology is still in the developing stages, as are all the other forms of zero emission power sources. Plus, electric cars (the charge em up and watch em go kind that you have to plug in every night and forget long trips with them) aren't zero emission anyways, they still use the power created by power plants, and even nuclear plants have emissions (the worst kind really, the kind that take a lifetime to break down to semi safe levels).
Besides, the amount of power some vehicles need is astronomical when you look at it in watts. Small 4 cylinder engines creat the equivilent of about 130 kilowatts or so (rough average I think). That is 130,000 watts. That is a lot of force and energy created. A 1000 watt microwave that can boil hot water in a few minutes can put it into perspective. 1000 watts of microwave radiations takes a few minutes to boil that water. Imagine if you dumped 130,000 watts into that same cup of water. It would either boil really dang fast or completely vaporize into steam in a few seconds. It's pretty hard to efficiently get that same amount of energy from any other source without a lot of cost involved. That's why the technology the have right now isn't practical, even if it works. It would take rather large hydrogen cells to put out the same amount of power as a 200 hp engine is capable of producing, and then you get to lug around those heavy fuel cells in addition to everything else. Plus, electric motors that are capable of converting the electric energy created by the cells into the same amount of power as a small 4 cylinder engine are very heavy and waste a fair amount of the energy into heat. An efficient 1 hp electric motor weighs about 15-20 pounds. I don't know exactly how much one of the custom motors they use in the electric cars weigh, but it's probably pretty comparable to the engine it's replacing, if not more.
Now, I know that it can be done, eventually. The traction motors they use in diesel locomotives are massive, but four of them on an engine can move hundreds of thousands of tons of weight. But those have deisel engine powering them that put out upwards of 4,500 hp to 6,500 hp!!! The 6,500 HP engine is putting out the equivilent of over 4.8 megawatts!! That is a heck of a lot of energy to put out!
Anyway, sorry for the long post, but I think it's funny when people talk about using "old" technology to drive around with. I say, show me something that works just as well if not better, otherwise move on. We still use wheels, no hovercraft or flying cars yet. Same goes with the internal combustion engine. No compact fusion reactors, no supercompact energy cells, no practical zero emission power source yet for transportation.

[/u]