I've been a bit dick with regards to newer VGM, but I basically echo everything Judgement Day has said. I remember playing many games with great music on my NES and SNES, so when discovering VGM came about, I wasn't afraid to really branch out and try new things because I felt like most VGM was good. If anything, I felt cheated when I discovered how many games had never been translated to English and I figured I could at least salvage the music from them by getting the soundtracks. I did good...I discovered SNK, Falcom and the large bodies of work by Square/Konami that were largely left in Japan. I mean, an SNES Final Fantasy that we didn't get here in the US? And I get to listen to music? Awesome! You had the soundteams at Konami/Square/Capcom/Taito/Falcom that were just pumping out awesome stuff. Not so much nowadays.
My thing is, I like game music that sounds gamey. I like chiptunes, melodies, synth rock, Super Nintendo-style orchestrations/rockfests, as well as arranges that are faithful while adding flair or even just grading up the sound effectively. The output of Konami and Falcom during the early to mid 90's more than justified the large amount of time and money I put into acquiring them, know the odds were in my favor of getting something I liked. I don't feel that way in regards to much new VGM. If anything, whenever I see something that might interest me (lets use the new Rockman Arranges as examples), I feel a sense of dread more than anything. Seeing new Final Fantasy soundtracks nowadays basically means what project did they give Ishimoto and/or Mizuta to dump on us THIS time (imagine Dissidia done by the "classic" Square sound team...what could have been). There really aren't any composers I'm outright admiring right now...Souleye and probably Koshiro are the ones that immediately come to mind, and virt somewhat. So it makes me feel like blind purchasing is far less likely to yield ripe fruit.
The one thing that has piqued my interest nowadays has been the influx of chiptunes (or even pseudo-chiptunes) and people recognizing it more as art and not outdated crap. I've just heard so many great "gamey" tunes that actually try to emulate the sound/style of classic chiptunes, that it hits that rare mark of fresh and familiar.
Also add into the fact that production has gone south horribly, with regards to compression, warmth and volume. I've done the rant in another thread, but to summarize: I don't know why VGM albums are being produced like pop records, where they are squashing everything into the midrange and making everything downright harsh to listen to. VGM albums from early to mid 90's are quiet with good dynamics and it's normal to turn them up. They sound amazing and detailed.
I remember looking at the volume level for Xenoblade and I couldn't believe, for that type of music, they would make it that loud. Virt's recent Mighty Switch Force OST is downright sad...every track is up near 99-100db. It should not be anywhere near that (his prior works were just right, as far as listening volume went) and it a huge reason I don't enjoy the music more (the actual music is amazing, I'd gladly pop for a well-mastered version of it). New-school Falcom has zero idea what they're doing, with regards to volume levels and dynamics and it kills 95% of the music outright for me. Just go listen to Mighty Obstacle from Ys VI for the ultimate example. Amazing tune, horrible, horrible production. And has anyone ever noticed, oh say, the Black Mages or Guilty Gear XX and why they sound off? Yup, whoever mastered those albums cranked them and the layers are distorted as hell (although ironically, the Korean GGXX is one of the best mastered albums I own...It sounds amazing and detailed on higher-end equipment) This weighs heavily on any buying decisions I make, because I have to be sure I'm not buying something I don't want to listen to, even if I like the music. I mean, when they say they are going to "master" the classic Megaman music, I am absolutely dreading the results.
The above is something I don't see mentioned in a lot of reviews nowadays. If I had been more aware of the loudness wars when I was actively writing reviews, I would have made certain to state how the album fared in that regard. But it turns out most of my longtime favorites are mastered extremely well and many of the albums that I "should" like more and I can't get into are...well, not. Funny how that worked out.