i agree with the criticism of newer games. a lot of them are an attempt to be jack-of-all-trades but excel at nothing. still, there are new games that are great: the metal gear solid series, for example, really improved in terms of game quality from their msx predecessors. they arent made to compete with pure gameplay giants like most arcade games, though. metal gear solid 3, okami, final fantasy xii, ocarina of time, wind waker and twilight princess, the resident evil series... those arent bad games.
still, i love the old school of focussing on a certain aspect of gameplay to keep the games fun. most good arcade games are great at that (by necessity, given the environment in which they are planned to be played). quakeworld, the old zeldas, the old metroids, the different jump-and-run classics... they certainly didnt lose their flavor over time.