I think it really depends on what the game is. Some old games are classics, and can't be compared to new games, which is more or less the point I am trying to make - old games are much more classic and well remembered than new games. For instance, Metal Gear Solid 1 is a classic. Final Fantasy VII is a classic. Without many of these classic games, the games today would not as good as they are. Which is my second point - games have revolutionized a lot since then, and many have even beaten their predecessors.
So, in conclusion, I would say they are both as good. Classics are always nice to replay, and the new games are graphically nice to look at, and are always good to just pick up and play.