But compare these engines to the improvement we have witnessed with jet engines over the same period which are quieter and far more fuel efficient and use digital control
Lycomings and Continentals may be reliable and proven but they are old technology! When you look at the cost of AVGAS now it's high time we had a more efficient powerplant for light aircraft which are not susceptible to (for example) carb icing.
Maybe we need to go diesel, time will tell.