The GA industry is running up against the same problems. Go to your local flight school and 99% of the time you'll just see a row of 1970s Cessnas/Pipers. Recently there has been some push back against the FAA's certification programs due to the fact that MEMS systems are inherently more reliable instruments than gyroscopes powered by engine driven vacuum pumps. This resulted in some legislative changes and now you can (IIRC) replace many gages in old aircraft with newer electronic variants and not need a Supplementary Type Certificate (basically like getting your car re-titled to replace the tape deck with a CD player).

tl;dr: It's basically become apparent that too much safety is killing people.