Well search the net and other forums and you'll find lots of people using old MF lens on new digital bodies as some of them are still optically superb. Putting them on a crop body like a 450D can work even better as due to the smaller crop sensor you're cherry picking the best, sharpest area of the lens' performance.
I've got 2x M42 lenses I've used on my 450D; a Carl Zeiss Jena Sonnar 135mm f/3.5 [which is a cracking lens] and a Vivitar 28mm f/2.8 [which I've barely used in truth]. I've also got an old Praktica 35mm SLR and got an adaptor to mount the Praktica B type Pentacon 50-250mm lens I got with it too.
AF has got us all a bit lazy of course, and I wouldn't want to shoot wildlife, sports or airshows in MF, but for portraits and landscapes it can work well.
Focusing can be a pain on DSLRs as their viewfinders don't offer split prism focusing or similar aids, but there are lens adapters [like mine] that will offer focus confirmation if you wish - check out eBay.
There are pitfalls, metering is a bit unpredictable in my experience, and you need to focus wide open and then close down to your required aperture before you shoot, but you can get some nice results from old MF lens for little outlay.