1-As far as light and a GFI, I am not sure where you are getting this comment from as I was talking about bonding conductors with respect to the light replacement, and GFI with respect to installing receptacles on knob and tube.
2-There was never any mention of a bedroom circuit, so I am not sure how AFCI's were brought into the equation.
As far as bringing existing electrical work up to code, look at rule 2-022. I am pretty sure the inspector is going to want a bond wire for that light, especially if it is constructed of metal. Besides, for a breaker of fuse to work properly should a fault condition exist, you have to have a good path back to ground to operate that fuse or breaker. Also have a look at 10-400(g)
Never trust an electrician with no eyebrows!!