There was a period of about 6 months, back at the beginning of 2001 when I seriously thought that Trance was slowing down a lot, and that it was not getting played much, here in Australia at least.
Well, from what I have seen, trance has really bounced back. Every major club in Sydney plays Trance, hard, Euro, Progressive, whatever, it's trance!
Our radio stations on the weekends now play trance, ALL NIGHT! (Nova 969 from 12 midnight onwards).
Finally, there seem to be more and more commercial trance songs being released and played on the Australian Airwaves, which are damn good songs, and in no way CHEESY.
The sounds of 1998 and 1999 can still be heard in new stuff being released these days.... but I think the quality of the polysynths and samples used in tracks these days are of a higher quality, and in general.. more modern sound. Trance has definately evolved, but in doing so I think it has grown stronger 
Just my $0.02
Cheers
StarSurfer
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