With regard to wet suits, my 5 mil Aquastretch is as easy or easier to don/doff than my previous old school 3 mil Scubapro, which tore at the ankle in less than 2 years. My range of motion is also as good or better. In between those I had an old school 5 mil Mares, which also tore at the ankles in less than 2 years, was more restrictive to range of motion and had more flush at the wrist, and neck. After hundreds of dives in the new suit, I have not noticed the greater swing in buoyancy due compression and did not feel colder on a recent deep dive. For my diving, the new suit is an improvement (granted 72 deg F is the coldest I've seen in years).
I am not even sure the brands of the worn out rental set I purchased after formal certification in '92 (probably Dacor except the Harvey's long sleeve shorty), but it was very close to 1988 year equipment, and the discontinued entry level equipment I purchased early '01 was a noticeable improvement. My current Oceanic Delta 4/CDX5, purchased in '04, is WAY better than that 2000 MK-12/R190. From my perspective, my reg's have each been an improvement over my previous reg (granted the Oceanic isn't entry level).
The 80's Dacor Jet's I took to my IDC were the butt of much mirth, but at least they were red so I didn't have to take anything extra to show color loss on the AOW deep dive. They were heavy, wide, inflexible and like most of their era, the foot pocket was a pain in my instep. The Mares Avanti line of fins is reasonably priced and a significant improvement for me, especially the comfortable foot pocket. It's not necessarily a new design but it's newer than the Jet design (granted there are lighter, better foot pocket Jets now).
That said, even integrated weight BC's should not require taking OW in '08 because the OW in '88 was so retro, unless the '88 OW class was with '78 era gear. Is it possible an '88 class might have not used BC's? Even though I had a couple hundred pre cert j-valve no-BC dives, I learned a lot of invaluable information in my '92 OW class.
Perhaps 20 years is not far enough back for a decent discussion of progress. When did K-valve, BC diving start? I remember my dad's first CO2 horse-collar dive in '64 (5 y/o snorkeling above). I also don't recall him using it late '60's early '70's when I was diving with him.
I think diving is easier and safer now than it was in days of old. I'm also not sure the manufacturers have increased profit margins so much as they have tried not to lose too much profit margin with the new cheap materials. I would blame all the
cheap bastard divers for that; they sure aren't making a lot off me.