Frames and Iframes are still bad for layout use for a lot of reasons, speaking from a design and userfriendliness aspect. They are not good when there is a better alternative available, such as an include and a div with overflow.
ps: what are your simple frame and Iframe rules? Is the iframe one put a n anchor tag within the frame tag
<iframe><a></a></iframe>?
If so then, yes this makes the content accessible, but it still makes the site a pain in the butt to navigate for those who do not support frames. It is a pain to get back the menu when you are using a browser like lynx.