Just because it's before my time doesn't mean I'm not aware of it
See Also 8 heat sink geddons with no stacking penality
Moo with instagib moas
GNW
Xetic Federation
etc
But on a raw speed level, your right. Even the pimpest ship in eve right now can
only get up to around 63k/s, as opposed to the au/s 8 MWD scorpions. The reason I'd rank this change as being a far larger nerf is tied to how game mechanics and player infrastructure has build up in 0.0, along with the fact that fleets, even small one, are generally much bigger than they were in 04/5. Ofc, you still get 8 man outfits (Hi

) but the average grunt has way more friends and allies then he did back then. I point you at the 30K+ players who took to evicting an alliance I was in recently. Never use to have those kinds of numbers...
Hence the profileration of speed based gangs, it's the only way to have a half way decent chance at killing stuff without dying horribly yourself. Back then, iirc, you were considered a massive blob if you had 100 men in fleet. These days that's SOP for alliance fleets and close to the norm for faction warfare.