The quality has dropped a lot in forty years or so.  I made a lot of picture frames out of 2x4's, back in the day.  Lumber yard types scoffed at the prospect, but even the six foot ones are in excellent condition these few decades later.

I worked on the oldest Queen Ann in Olympia, Washington. It's a Heritage house and is called the Byrd House.  The entire house, from the floors (coated with amber shellac) to rafters, is tight grain cedar. The framing is of nominal 2x's, so true 2x's.