I'm a Quasi Old Timer
Having started fly fishing in my early teens on the Catskill region rivers where serious traditional fly fishing was practiced (only dry fly, floating lines, bamboo rods, etc) the traditions of the sport's ethics were firmly based. Can remember the dry fly guys looking down on the wet fly guys and in the 1960s there was really no nymph fishing that I can remember. That started in the 1970s as the sport evolved.
I say I am a quasi old school since I like to take advantage of the new technology (graphite rods, sink tip specialized lines. etc., new fly tying materials, etc.). I don't use indicators, does not seem like true fly fishing to me. A good wet fly and nymph fisherman can feel the strike once they get experienced.
So I like some of the new tecnology but do not apply all to try and stay close to the traditions of the sport.
I do believer strongly in C+R to protect wild stocks of trout and salmon which I have now seen applied successfully to my two favorite rivers The Beaverkill - NYS and The Pere Marquette - Michigan. It works and the fisheries are better now then they were before even with increased fishing pressure.