Elmore's art isn't just game art, unlike a lot of the stuff decorating the inside pages of WoTC books and Dungeon and Dragon magazines. A good example of game art is Wayne Reynolds who though talented is not in the same artistic league as Elmore, Calwell, Parkinson, Lockwood, and others of their ilk. Even Brom, whose style is completely unique, is a stand out talent. Not saying that these folks all produce masterpieces all the time, but their stuff stands up within fantasy art circles even when their style isn't the "in" thing.
Folks like Baxa, Reynolds, and dare I say Terlizzi have styles that will never be classic and in fact are rather forgettable outside of those gamers who loved the settings they illustrated/painted for. I refer to the art of these folks as fad or trend art which has a shelf life of so many years before it goes bad.
Larry Elmore is unraivalled in regards to his skies, his landscapes and his atmosphere. His women are often stunningly beautiful. His limitations are in the areas of physiology in regards to musculature, his dragons are kind of stringy looking, and compared to a fellow like Lockwood, his technique is kind of cartoony at times.
However, despite his shortcomings, such as they are, the work of Elmore and others like him I believe are simply of a higher caliber than a large amount of what graces books on the market these days.
Chris