well, I went to my first rugby match in the early 90s, probs '92 or '93. From then until England won the RWC in 2003 I always had the impression that the Celtic sides were all rubbish in the same way that an England football fan would think they're rubbish. Yeah, we may have lost a few odd games to Wales/ Scotland/ Ireland but in general England, France and the SH teams and even Italy beat Wales on a regular.
But I have to admit, the 00s have been good for Wales. 2 Grand Slams, beating England 4 times out of 9, having what look like some solid club performances in the HC (Llanelli in the past, Cardiff now), I think Wales have got a lot to say for themselves as being a relatively successful rugby nation in recent years.
However, from what I've heard and seen of the side with Edwards, JPR and all the rest, that is a big mantle to live up to. Those guys in the 70's were the best Wales have ever had... like the England side under Woodward. They were a particularly special bunch who could beat anyone in the world. The current Wales side has occasionally threatened to beat the world's best but hasn't.
I hope I don't sound condescending, but Grand Slam winning sides only become great sides when they can beat allcomers. England won a Grand Slam in 2003 in the midst of a streak of matches that saw us hammer South Africa, beat NZ and Australia home and away, and then win a world cup. Even before that England could expect victories against anyone at Twickenham. That is a truly great side. The Welsh team of 2005 won a grand slam but never built on it. They won another in 2008 and have threatened to build on it...they've certainly sustained the moniker of 'good team' since winning it. But frankly, they've underachieved since and if you want to call any period a Golden Period for a country, then they have to consisteny sustain success for a few years at a time. You could say that it's a Golden Period for Irish rugby - they've had a great side for the last 5 years, beaten the likes of South Africa and Australia, and won a Grand Slam along with a few triple crowns.