I think David Schmidt is directionally correct- today's forged blade-like irons- are better, though I am not sure that this is the case with the Hogan Apex iron. I've played numerous of these since the mid-70s- Apex, Apex II, Apex PC- and currently own two sets of 2002 Apex. The IIs were the worst. The Apex PC had a reputation of being hard to hit, but I didn't have a problem with them. My 2002s are as good an iron as I've ever played, and I've tried all types from Pings to Mizunos. I also own a set of TaylorMade TPs which I've had reshafted three times, most recently with Apex 4 shafts, and it is now my guest set.
It is doubtful that the pros will change their games appreciably, and I don't think the USGA is going to roll the ball back (though it might seek to control further distance enhancements). There are too many people who love to hit it long and those who watch the game get a bigger kick from a 350 yard bomb than a deft wedge shot from the rough which rolls out 30'. I could be wrong, but the tours' futures are predicated on people and businesses following the game, and this will likely not happen if the players are hitting hybrids and mid-irons to keep the ball in the short grass. Add wildly contoured greens that seem so popular on this site (as the recent Bethpage threads indicated) and we run-off the many to please the sophisticated, purist few. Golf has many economic and environmental challenges in its foreseeable future; solving the arms race, though still relevant, might want to take a backseat.