I am frequently asked to provide an opinion to customers as to whether they should use a gloss or satin finish when floor sanding their timber floors. There are some circumstances which make one finish more appropriate over another, however often the choice comes down to nothing more than personal choice.
Gloss obviously provides a shiny reflective finish to the wooden floor where satin provide a lower sheen more subdued softer appearance to the floor. It is more often what the customer thinks they will prefer that makes the choice right rather than what my opinion might be.
Certainly there are certain circumstances which may lead to the consideration of a satin finish. Such as dogs in your house and the hair that they shed may be seen less with a satin finish. Lower sheen satin finishes will also show dust on your timber floor a little less and will be less reflective of sun light which may shine in through your glass windows and doors. If your old wooden pine floor has has borer infestation a gloss finish over the the borer markings will never be as glossy as the other unaffected areas of the floor, however using a lower sheen satin finish will result in a more consistent level of sheen.
I am also of the opinion that our older Queenslander style of homes benefit from satin floor finish, I do not believe the wooden floors of such houses were ever intended to have glossy floors. Certainly lower sheen finishes have been increasingly specified as what is considered a more contemporary appearance. That said, there a plenty of customers who just want a glossy wooden floor, and if you know what you want there is nothing wrong with that.