The last training I received was just as thorough if not more so than the first training I ever received.
I feel that I received different training than divers 40 years ago. I was taught to use such things like dive computers, understanding of deco (to the extent that we understand it), actually having SPG's instead of J-valves, etc.
I wasn't required to swim a mile (exaggeration) or free dive to 100' (exaggeration) but I had to show a reasonable level of fitness, competence and understanding in order to pass every class I've taken in the last 10 years.
I feel my training is adequate because I've yet to run into a situation that I wasn't able to rely on it, stay calm and reason my way out of. Even more so, because of my training, I seldom found myself in situations where the previous response was needed.
Since I didn't take training 30 years ago, I can't speak from experience. I suspect that it's changed because that's what the market demands.
I have experienced all of it, except for the first 10 or so years (certified in 66, instructor in 74).
And I had to do a mile swim (no exaggeration) and done free diving in the 60 ft to 100 ft range. (also no exaggeration).
Fitness was a much more important aspect, as was comfort in the water. I believe there are a few instructors left that still do an excellent job, but I see far too many divers that just are not comfortable diving, and don't stay with the sport.
In many ways, I think we do a better job today with teaching safe diving methods, but not enough on being relaxed in the water and having the strength to deal with the unexpected.
I watched a certification class this weekend and their skill level scared the heck out of me.