Newest cars are awesome. Expensive as fukk, but driving them is a pure pleasure. If someone would show me an old model of the same make which drives AS good,safe,fast,economic,etc.. I'd probably buy the older one, tho' that just won't happen. Older were more reliable, yes... but they were a lot more simple products.
It depends. It seems like the American cars (enthusiast versions especially) have gotten better, and the German cars have peaked, while certain British and Italian car companies are either getting better or continuing to knock them out of the park.
For instance, drive a e46 M3 vs the current M3/M4 and you'll see the difference in handling. Drive a e39 M5 vs the F10 M5, or even a e39 540i vs a F10 550i, and you will see the difference. Drive a 964 or 993 911 versus the 991 911, and you'll see and feel the difference.
Drive a C4 Vette vs the C7 and you'll see that the C7 blows it out of the water in terms of handling, interior, styling, etc. Drive a 3rd Gen Camaro vs the current gen, and again new is better.