http://www.youtube.com/watch?v=XozHLoqwp_4 << one of the greatest aviation advertisements
And the fastest plane is from the 70's. We were going twice as fast then as we are now. I know the reasons why the Concorde program ended, high costs, high danger.... but we could do better.
That video is awesome. As a fourth generation pilot I love it. I even recorded a video interview with the old fellow who taught my great-grandfather how to fly when he soloed in 1944. Sometimes I yearn for those early days; but I do love the benefits of standing on their shoulders like later generations of humanity always do.
There are actually lots of advancements going on in aviation. Space, drones and personal jets are a few examples. Plus, there is probably plenty of classified technology. All of this is bringing the costs down and making piloting easier and safer than ever before.