Clint; The problem with your analogy is that it is false. Putting aside Ruth etc., nobody is hitting the ball further or more often than Mantle or Aaron, putting aside the steroid aberrations. The main reason is that the equipment has remained relatively constant. Bats are still wooden and while the ball varies slightly from year to year, it is essentially the same. Incidentally, the better conditioning and nutrition is avaialbel to MLB players as well. Basketball, shooting percentages have not improved although I would agree overall athleticism has increased. Still, are the current stars doing things that Jordan and Magic et al couldn't do in the mid to late 80's? Then compare driving distances between now and the 80's. The middle of the pack on tour today would have led the tour in the mid 80's. It changes the way the courses are played even if, in the end, the short game may ultimately separate the winner from the loser. the difference is, it may separate different winners from different losers because by removing the impact of much of the architecture and the attendant demands, a greater premium is placed on length. While length was always an advantage, the penalties for "long and wrong" were greater.
The other sport where equipment has significanly changed the game recently is Tennis. The new rackets allow players to hit with greater topspin on low balls (note the prevalence of western grip forehands) which has almost eliminated serve and volley tactics and even reduced net rushing on short balls. they are still great players but the all court game is vanishing.