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It's nice to be nostalgic.
Nothing wrong with that.
I sometimes think about the days of supporting 150 users on a single 33Mhz 68030 with "smart" interface cards with 32MB of RAM.
But I like my GUI painters, wizards, powerful database systems, sophisticated kernels, high level languages being interpreted and compiled on the fly.
I hate slow code as much as the next. I loathed Half Life 2 with its eternal loads and pauses, but boy was it a gorgeous game.
I scream and yell at Outlook Express whenever I go in to get my emails. But then I note that I have several 100 THOUSAND emails in my assorted folders, and I cut it some slack.
When my drive gets too full, I replace it and load on the old one. It's easier than actually going through and cleaing stuff off of it, and gets me more space more quickly.
The overpowered bememoths we run every day let us worry less and less about them. I worry about performance and volume so rarely, it lets me write the code I need to get the job done much more quickly, and then lets me move on to other jobs. While the work is being done "less efficiently", it nets being done faster than if it was done efficiently.
Only on edge cases is it worth the time to really worry about tweaking and speeding up the code.
I'm a bigot. My time is worth more than the machines time. Since most of my work is one off stuff, I'll run the most bloated and engorged tools I can get my hands on if it saves me time in getting the job done.