I do think there is a bit of a "let's go back to the 70s" mentality with a lot of bands. Stripped down production, vintage instruments and gear, love of old artists, and bluesy rock seems to be coming back. Bands that are doing this (that this forum worships) include PoS, Opeth, Mastodon, Steven Wilson, and The Dear Hunter (Orange). Not to mention all the modern prog Spock's Beard clones who want to be the next Gabriel-Genesis.
The trick, however, is to showcase your love for that kind of music, but without deliberately imitating the 70s style of production or sound, which is what Mastodon did perfectly with CtS and what Opeth did very well with Heritage.