I am as good at welding ox-acetylene as anyone I have met, and I have used the coat hangers and the purchased rods, side by side. I like coat hangers better. The fancy rust resistant plating on the rods doesn't help fuse the metals, in my opinion. Plus, it kinda sparkles up a bit when heated. I don't use that method except where I cannot do arc welding, though. Arc welding sucks on rusty gas tanks and exhause systems. Yes. I have welded up lots of gas tanks with pinhole leaks and rusty spots. It's a specialized skill that most welders won't touch.
I have yet to see a plasma cutter that can match the capacity and versatility of my cutting torch. Plasma cutters are great for manufacturing processes. The cuts are remarkably clean and don't contract as much, they gnaw right through any metal they come to, even stainless. They are totally worthless down the square hole from a two-speed shifter in a differential, cutting off a stripped axle that cannot be pulled out. Ohhhh yes! That was a fiery, smoky mess. I even had to by a new torch handle, so as to accommodate a new straight-cut torch tip. Almost all of 'em are set at 90°.
Plasma cutters are not worth a crap on a 2" diameter bolt holding a blade carrier on the bottom of a brush mower on a tractor, either, and pretty useless for anything more than 1/2" thick, too. I'm sure there is a plasma cutter for nearly any situation, but the average guy doesn't have the means for lots of fancy welding stuff.
BTW: acetylene is a bad plan for soldering, too. It's much too hot.