ktchong: I have been playing CRPGs since the early 1980s. I say contemporary CPRGs are, generally, far superior than ancient CRPGs in so many ways: storytelling, execution, choices, user interface, etc. The only reason why people would say older CRPGs are better is because of nostalgia, and old people always think the games (or music, or movies, or TV shows) from their time are better than the new stuff.
I'd have to disagree with you on the nostalgia viewpoint. I played games such Akalabeth, Temple of Apshai and the first Wizardry back in the early 80's and think that, *for their time*, they were great games. Many hours of enjoyment lay therein, and you can't ask much more from any game than that ;)
And Wizard's Crown was one of the best games I've played, in any era.
Would I play them now ? No - the graphics, mapping and other record keeping required would spoil the experience for me.
Also I'd note there are people on these forums who play the early Might & Magics, so there's still life in some of the old games.