Talk to many of the guys on the senior tour. Many of them are playing as well or better than they did on the regular tour because of equipment and despite their aging bodies. Most all of them hit it further (or just as far) than they ever did when they were younger.
The newer drivers and more importantly the ball have been the biggest factors in this.
But as we all know, the better players differentiate themselves with their short games and putting. This is where it takes the most skill and finesse and it really doesn't matter much what kind of club you are using. I would say there are a lot of players benefiting from better equipment tee to green - but if they have no short game or can't putt then their scores will never show it.
My first clubs were Pings. Then I went to Mizuno MP29's and loved them. I'm now playing the Titleist 704 CB's which feel great and give me a tad more forgiveness and distance than the 29's. I'd rather hit an 8 iron into a green than a 7 iron because the shorter club gives me that much more control.
Having said all of that, blades sure do feel nice!
A buddy of mine picked up a set of Miura's mid-summer and they are indeed one sweet looking set. I used a set of MP-29's for the last 4 years (had them re-finished once during that time). After the sweetspot grooves started to wallow out again I decided to move on to the Ping S59 Tour. They're not forged, but have the same great look (compact, thin top-line, minimal offset) as my 29's did. Amazing what a difference the ferrule makes on the look of a Ping.
On a related note, Golf Digest ran a good article with Scotty Cameron in the most recent issue. Regarding putters, he stated that a lot of pro's are going away from the high MOI, large headed putters. He says, "a mis-hit is a mis-hit" and the pro wants to know when he misses a putt whether is was a mis-read or a mis-hit.