I do not doubt that the new version is more flexible and powerful, but I'm not sure whether it's really cleaner.
If you have a class where each object should be 'active' (i.e., a separate thread), the old approach was well-suited and clean. I guess you could put the code you posted in the constructor of such a class to achieve that there's a thread per object without having to deal with Thread objects outside that specific class, but the resulting code doesn't seem to be cleaner or simpler.
btw: Shouldn't the parameters in your example be the other way round? I don't find a matching constructor in the documentation.