I did similar rebuilds and if the parts are any good, they would upgrade the frame and wouldn't look odd on it as '93 modells had them anyway. As long as your frame has brake studs and a rear cable stop can be attached on it, heck, why not, even on newer frames?
M730 is the gold-standard Big S' kit, its only (secret!) worthy competitor in terms of longevity is the M650 DX stuff. When they stopped making them bulletproofness was in grave danger and still is to this day (Malaysian XT stuff, ehh). I collect only DX and XT parts from that era, XTR is -while desirable and can be tough - hugely overpriced/hyped, and more prone to failure.
If Shimano decided to launch a classic re-edition of this XT/DX stuff, (provided it's built to old standard quality, of course) - I'm sure they could ask XTR price for it and it was still worth it.