agundrum, enjoy it while you can. They will take it away from you.
I have been using Classic Outlook, desktop kept suggesting I use New Outlook, but I tested it and again the issue of PSTs and having data available locally and when I am offline are deal killers.
New Outlook is a product I would not pay for, as I am for Classic Outlook (with Office Suite).
Did the folks at Microsoft not hear of New Coke?
For now, I hope the MSFT program manager for Outlook gets this feedback during their twice per year review cycle and can produce working PST functionality in the next release of New Outlook, and I will try to live with its other drawbacks.
Microsoft also used to have a Customer Experience team that focused on taking feedback like this. Something like Voice of the Customer. If that group still exists, it would be great to get feedback to them, maybe they are listening here.
Just in case, I am looking at testing out Thunderbird as an alternative in the meantime and a 3rd party PST converter/importer or using one of a couple of methods to get this data migrated locally.
Be prepared for similar functionality to Outlook, there are a number of add-ons you may have to consider, but it looks like they are working to update the code, clean up old code from Mozilla roots and keep it updated.