I don't think Hilary's a has-been, she still matters because she's US Secretary of State and will probably be a very strong contender in the 2012 Democratic presidential primary. Bill has a long list of political accomplishments, has been called one of the best political strategists of the 20th century, was Hilary's campaign strategist in 2008, and he will probably be her campaign strategist in 2012. So yeah, they still matter whether you love 'em or hate 'em.
Regarding "royalty" in the US, as another poster here stated, anybody who is rich or famous is treated like royalty in the US whether they deserve it or not.