Music of today is just as good as that of old....its just your perception that has changed and there is a name for this phenominominominon....reminiscience bump. Wiki explains it best in detail here;

[link to en.wikipedia.org]

Personally (Im 49) I listen to the radio a lot and prefer the popular songs...my 6 year old daughter and 19 yr old son play music too....so its catchy. I dont actually like the older stuff much unless alone, inebriated and thinking about my youth.

If I go to a "grab a granny night" and the DJ or bands plays Elvis or any stuff earlier than a few years ago I tend to wince and remove myself from the embarrassing noise.

I also find that I love new versions, remixes or covers of old songs. AT first I used to think HEY! the old song was great how dare they muck about with it BUT after listening to the new version and then the older one....I could see how much better they really are.