Are modern speakers better than old speakers?

Shiprepair, hopefully my comment on B&W will stay within the context of the OP. One audio buddy owned the original 801, then the Series III for a number of years. A few years ago he replaced those with the then-current 802N. As an outsider and therefore more objective listener, I found the 802N a great improvement over the older 801. It is much better balanced top to bottom, offers more detail without harshness or edge, and images better.

He recently considered the 802D but did not find enough improvement to justify the $12K price.

Regarding the original question, I'd say the answer is yes and no. Certainly several models of individual speakers have improved over the years. But are all new speakers today better than their inflation-adjusted price competitors from 20 years ago? I don't think so. Many older models can offer satisfying listening if appropriately restored (foam surrounds replaced, old crossover caps upgraded, etc.).

Sirspeedy, no need to apologize for your enthusiasm for your Avalons. I feel the same way about my Duntech Princess. Good design and build does hold up over time. I think I would need to spend around $20K in today's market for a replacement and even then it could end up being a sideways move.

If you're not familiar with the Princess, she is the "little" sister to the Sovereign, the model that received all the notoriety and reviews. I always believed the Princess was scaled more for an average living room - still at 6' tall and 180 pounds, she is not petite. Configuration is five drivers in a 3-way D'Apolito array. The Princess remains in production although with a few minor changes from John Dunlavy's design