I have to agree with the statement about rider conditioning. I remember Kenny Roberts talking about how he was the first racer (as he always claims) to really take racing seriously. He talked about how many of the other racers - Barry Sheene specifically - would be out drinking and smoking the night before a race. Nowadays, a rider's body is just as highly tuned as the motorcycle. As much as you hate to admit it, someone that's in tip-top shape is going to have an easier time dealing with the forces generated by today's racebikes.
I also agree with the statement about tire advancement being a big part of motorcycle speed. Advancements in tire design are often identified as the limiting factor on a racebike. Witness previous eras of GP racing, where Doohan was sliding the back end around. Tire technology improved, and people started sliding less. Also how some tracks favored different tire manufacturers before the spec rule. A few years back, Michelins were the dominant tire in GP. Then Bridgestone started making serious improvements, and then everyone wanted to be on them.
I disagree about electronics. I hold Jorge Lorenzo and Turn 10 at Laguna up as an example. He's high-sided twice in that corner, with painful results. Why? Shouldn't his TC have caught him? According to people in the know, both were a "closed throttle" getoff. Jorge was off the brakes and off the throttle, essentially coasting through the corner. The bike started to slip, and because he didn't have the throttle open, the TC computer wasn't getting any input from the wheel sensors. The bike started to slip, and since he wasn't on the throttle, he couldn't correct it that way. Hello, high side. It's been observed that many racers from pre-electronic era have their TC turned down pretty low. This according to tests in Roadracing World. Are they luddites, or do they just trust their own instincts over the computer?
I for one believe a racer from 30+ years ago would have no problem being fast today, with the caveat that they haven't completely dropped out of riding. I've been passed and out-braked more than once by Reg Pridmore, while he was riding a VFR (He's the AMA's first Superbike Champion). While it's a humbling experience, it reinforces the idea that if you keep practicing and refining your skills, you keep getting better and better.
I think of this: If the heroes of 30+ years ago weren't still good at racecraft, why would they be retained as rider coaches and factory consultants? Schwantz, Roberts, Rainey, Mamola, etc.
Oh yeah: Props to my friend Bob Kohl, who landed a 20 foot backflip off a ramp in his front yard riding a KX80 in 1993.
http://expn.go.com/athletes/bios/KOHL_BOB.html