I normally don't need a soap box, but if you are going to freely hand me over one I'll certainly take it!
First off, I would like to say (if at for nothing more than to ease my own conscience) that I'm not "old". I'm still only 29 physically and a kid at heart. However, I've been performing magic professionally (so much as being paid is the bare minimum requirement for a professional) since I was about 15, and I've been into magic since I was probably close to three years old.
I think the most radical change in how magic was done when I was growing up to today is in the way magic is presented. Back in the 1980's magic was mostly seen (for me at least) on yearly flashy TV specials. David Copperfield seemed to have one a year for quite some time. Cool costumes, big effects, exotic sets, dancers, music, lights, and pyro. What a show! Back in the 1980's and early 90's magic hadn't quite seperated from theater the way it has now. Now days magicians are wearing jeans and T-shirts, and performing "on the fly" for people on street corners, and malls. Magic has become more personal, but in the same stroke more generic at the same time. Look at how many Blaine or Angel wanna-be's and rip offs there are out there in the 8-20 age group. I say magic has become more personal because Close Up magic is replacing Stage shows in popular venues. You're more likely to see a cards across than a tiger transposition.
I think personally the departure from theater, and character, within the context of presenting magic is a bad thing. I hope to see more of a return to theater in presentations in the next 10 years or so. I don't agree with the mentality that the trick makes all the diffrence. It doesn't. You're not being paid to do tricks. You're being paid to entertain (with tricks). It agervates me when I see young magicians and even other working professionals put more emphasis on what they are doing than why they are doing it. For me, entertainment is what our goals should be. To say anything but is a bit arrogant.
The solution of course to the lack of theater and entertainment quality is experience. The more you play with it, the more you'll see for yourself what works and what doesn't. People will realize that it's bloody hard work to go pro doing magic, and those not up to the task will fall to the way side. Those who do want to excell will evolve. That's the beauty of showbiz, it's a constant changing and evolving thing. So let the kids play with their toys. Let them have their fancy cuts and flourishes. I'll only worry about the serious players. They are the ones that can change this art.