In the mid 90's I rode a steel specialized hardrock with RST elastomer forks and magura hydraulic rim brakes, I used that bike for everything; trials, XC, jumps and what I considered at the time to be DH. Fast forward to today and I ride a carbon nomad with 6 inches front and rear and disc brakes.
I've got pictures of the stuff I used to ride, and it seemed huge at the time but is what I would consider to be tiny and easy now. The trails were great fun but badly built and didn't last through serious weather.
From my point of view the technology has helped me improve my riding past what previous bikes were capable of but the ground work that was done on the hardtails was essential to make me ride properly. I'm still not the fastest or best rider but I know how to hit a trail well, flow and enjoy myself. Starting on the latest and greatest is a breeding ground for poor technique.