I was reading an article on clickz.com the other day (can't find it now) and it really made me shudder. The gist of the article was something like: "what if we took away your adwords, the internet, your excel spreadsheets, your computer and your fancy new metrics, put you back in an 80's marketing department and told you to launch a new product".
It gave me even more reasons to get out those marketing books from university to brush up. I know that a lot of the skills remain the same - but the tools have changed so much.