jharkin - The original foundation is what is known around here as a rubble foundation. Builders dug a trench, then filled with what ever stone was at hand up to the grade. From there to the sills, they used blocks of stone or a double or triple width of brick (my case). Inside they created a gutter around the perimeter of the cellar to direct water to a gravity drain which led any water out. There were a number of advantages to this system. The foundation could flex with the frost, water did not build up against the outside of the foundation no matter how heavy the rains. When I had the shotcrete sprayed, plenty of channels were left to allow water to move as it had for the past 200 years. There was no thought of "waterproofing". When there's a lot of rain - last summer, for instance - plenty of water flows in and then out. Sealing the area above grade from the inside was the most important for air sealing. Before the shotcrete, I also did some grading on the outside to insure water would not accumulate near the foundation. The cellar, like most in the area, will never be converted to a family room, but it will continue stand (if cellars stand).
I agree completely with your point about modern methods/materials in old houses. One early nineteenth century house near here had vinyl siding installed after blown in insulation. New owners stripped off the siding. Bottom 3-4' of siding, boards, sills was totally rotted and sodden. Any old window can be made more efficient than any you can buy today, no matter what the price. Most of the lumber available today would have been relegated to the scrap pile in the past. The prospect of an army of briefly trained, inexperienced "building efficiency" workers descending on old buildings in Maine and elsewhere generally fills me with dread. Actions like this may make the charming myth that most people in Maine live in trailers a reality.