It's not that I lost my touch, is just that I had more dedication to a single game back then.
For example, as a kid I remember beating Robocop 3 for Snes (which is an awful and very difficult game) and I couldn't beat the second stage now. After a few tries I quit the game. That didn't happened back then. I kept trying and trying till I beat it. That's probably because it was much more difficult to find a game back then and since I didn't have any other game to play I put all my efforts to beat the ones I have (or the ones I can get from friends).
In contrast, I feel that I'm a much better player for fighting games today. As a kid I always kept doing hadokens and shoryukens in every single enemy and I didn't have any motivation to improve since it was effective. Today, I'm more interested in combos and mind games than just beat my friends.
Overall, I think I'm a much better player than before. It's just that I have so many games now and my interest to them is over as soon as I finish them (with few exeptions).
I'm still a freaking looser though. I can't beat the Bike stage in Battletoads
Jam it back in, in the dark.