I worked as lead on IBM’s ASTI component (part of xlf) 10 years ago, and kind of miss it sometimes.
New standards mark obsolescent or deprecate a few ancient features as they come out, however compilers maintain the support for these features. I'd say that the modern Fortran is almost completely backwards compatible with legacy FORTRAN, as far back as FORTRAN IV (predecessor to FORTRAN 77).
That's very impressive! I assumed the compatibility difference was akin to what Perl 6 is to Perl 5- -- that is, not compatible at all.
If useful if your coworkers are stuck to a old semi unknown machine and want to mix the new code with the old code and run it there too.
(1) Compatibility with legacy FORTRAN. Although it's not difficult to work with legacy FORTRAN via C, it's seamless to pass data around between legacy FORTRAN and Modern Fortran.
(2) The mathematical and array syntax. It's tough to beat Fortran's mathematical notation and easy use of multidimensional arrays.