Some context before I answer: Skid Row in its classic form with Baz, was one of my favorite bands. Slave to the Grind (the censored version which includes Beggar's Day instead of Get the Fuck Out) is one of my favorite records of all time.
YES! I actually revisited it recently, inspired by someone in the "Listening" thread. Still fantastic.
I had really enjoyed their debut. I had bought it when it came out: it was part of those albums that slowly and gently introduced me to harder-rocking music (think Alice Cooper's Trash too). I was 14 when Slave to the Grind was released and I remember at the time being pretty shocked (in a positive way) at how heavy it sounded, when Monkey Business got going. And then the title-track - man, that was unbelievable. The whole thing is chock full of great riffs and melodies. Sure, not every single song is an absolute winner, but most of them are. The playing is excellent and, well, not many singers could touch Bach at the time, I think. All the range he had shown on the debut plus the right amount of grit when needed. And those ballads - just incredible.
I have only heard the first single off the upcoming new album and, based on that, I would agree with your assessment. They definitely seem to have the self-titled in mind. Agreed on the singing too - Erik is excellent, but he's no Bach (in terms of the fit for the band, I mean).
Regardless, is it even possible for them to recapture what they were doing 30 years ago? Kinda hard to genuinely replicate that attitude. Although if they do happen to release a good, fun batch of new songs, why not? We'd be all the better for it...Plus they do sound pretty good based on a few live videos I've seen.