Since when could cars NOT lock their wheels?!? The 30s maybe? My 1949 Plmouth Coupe certainly can lock its wheels when I stand on it (with no power brakes at that, but it does have 6 wheel cylinders.)
Brake proportioning valves (what you guys are calling "balance") came into existence way back in the 50s or earlier. Their job is to take all
4 wheels to lockup at the same time, not have the rears lock far before the fronts reach maximum braking potential or vice-versa. Proportioning can't compensate for one or more wheels being on slipperier pavement than the others, but it can and DOES equalize all 4 wheels when they have the same traction (allowing for weight transfer from rear to front as well). ABS does the fine-tuning to keep an individual wheel from locking, or its supposed to. What drivers fail to realize is that when ABS kicks in, you are BY DEFINITION using less than 100% of the car's braking ability. You sacrifice braking power to improve CONTROL during braking. Something that's really best done by a competent driver, not by a machine.