I tend to agree on the sadness thing, Tim. I went to Freemont a couple of months ago, and hadn't been there for several years.
My reaction? It was "nice". Very nice. Cleaner, nicer stores and better amenities. But I didn't like it as much. It wasn't as funky and cool as it once was. I preferred it when it had more character, and it's not like it was a dangerous pit either, so I'm not arguing against gentrification of crappy areas.
Oh well. I'm beginning to think the cooler neighborhoods are going to move out of the city some more. Eventually, Fall City will be a funky gay haven for Scandinevians.