While I still enjoy some old school games but I'd like to share the benefits of seventh to eighth generation consoles.
Patching makes it easier to give updates and fix bugs
The problem of old school gaming is that there's the tendency to release multiple bugged copies of the game. While there's still the possibility you got a defective disk but there are also game bugs. There's a lot of problems that could happen like online lag or just some stuff that need to be fixed. This gives an easier time to fix problems than the constraints that happened during the older generation console days.
Achievement-oriented gameplay makes it more satisfying
Gone are the days of cheat devices. While playing Tales of Xillia 2, I remembered how often I cheated with a Gameshark during the PS1-PS2 days for some games. Then in Xillia 2, I remembered how I had to earn all that money to pay that huge loan and the satisfaction of doing it... even if it earned a really stupid ending. But the whole satisfaction is there in building things up. So cheat devices are irrelevant in the days of achievement-oriented gameplay. While I may want unlimited money and ammo but there's no better satisfaction than beating a game once, getting more bonuses on the second play and trying new methods to finish the game.
I could mention a few games that I still enjoy from old school but I'll talk about a few games that really made things better. One example of that game is Mortal Kombat (2011). The game managed to present smoother, better controls than the PS2 days which I feel weren't as good. Tekken Tag Tournament 2 managed to be miles better than Tekken Tag Tournament. A lot of games today have smoother controls than they started. While I can enjoy some old school games but some of the first entries have aged badly.