I'm only level 2 Expert in Maj Soul, so take this however you wish, it's just my thoughts on the play.
Sanshoku is a bit of a long shot because you're waiting on the 3 of bamboo and 2 of wheels. You'd need to get pretty lucky for both single tile waits. Especially the 3 since your opponents will naturally be less likely to play it.
Depending on what's been discarded so far, you may have tipped your hand to everyone else where they'd be less likely to discard those tiles. You'll definitely tip you hand if you chi a 2 of wheels.
That said, it isn't a bad play depending on how early in the hand it is, who dealer is, what the score is, and if you're trying to bluff another hand like chinitsu to try to make someone else rush a Tanyao or some other low scoring hand. This is only East 2, so I'd be more likely to play that closer to the middle of the hand when I'm trying to cobble something together if the draws haven't worked out for a better hand.
I have no idea what the Showa period comment is about. Maybe there was a different mahjong meta at the time.