You're reffering to Debian Squeeze, not Wheezy. The latter one is the current stable release and it would be quite decent if gnewsense was based on it.
However, you're right with the rest of your points.
Squeeze still gets support so using it is not a problem from a security point of view - quite unlike some other fsf endorsed distros which look almost dead - but it is from a practical point of view. Don't know if people have so much fun with years-old software and I guess squeeze won't be supported for so long since it's already oldstable.

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