Just to join in the general feeling of nostalgia, did anyone else grow up with the Disney films, like The Lion King Aladin and Hercules? And watch shows like The Simpsons and Robot wars? While I agree with those who have said that every "generation" probably feels this way, I feel a little sad (and oddly, somewhat priveliged) that modern kids won't experience this same magic.
Do kids read anymore? Part of what I loved of my childhood was reading books by Anthony Horowitz, Philip Pullman, JK Rowling (of course!) Tanith Lee, Darren Shan, and plenty more. I hardly ever see children reading books now.
And I remember when video games were about grand adventures and fun, like Jak and Daxter, Final Fantasy and Zelda. They weren't all shooters, charmless no matter how fancy and polished. And this was when multiplayer meant racing cars/playing beat-em-ups against friends sitting beside you, as opposed to shooting faceless strangers you would never see in person.