This is a little like saying that the guys who played in the NFL in the 1960s wouldn't cut it there today. In some cases, perhaps not. But the guy who played center at 220 lb. in 1967 didn't have the weight training the 300 lb. center of 2013 will have had since high school. The child of the SAT taker of 1975 who took the Iowa tests three times from 1st grade on and the PSATs in 11th now has the opportunity for drill baby drill.
Also, when we consider the admission rates, remember that kids apply to a hell of a lot more schools nowadays. A dozen seems to be routine; one kid I know of from the high school class of 2005 applied to 18 schools.
(High school class of 1973 here: I applied to one school, which in hindsight wasn't necessarily the best method, but it's a bit late to ask for a do-over.)
Also, when we consider the admission rates, remember that kids apply to a hell of a lot more schools nowadays. A dozen seems to be routine; one kid I know of from the high school class of 2005 applied to 18 schools.
(High school class of 1973 here: I applied to one school, which in hindsight wasn't necessarily the best method, but it's a bit late to ask for a do-over.)