I think I have read that dungeon magazine too. Hack and Slash vs. Roleplaying. When I think of hack and slash, it is more of let's see what we can throw against the characters and see what happens. If I recall they had a funny cartoon about one of the players running a game, because the DM and a few other of the player were going to a convention, not sure on that one. And the player, DMing just ran all the monsters out of the Monsterous Manual, starting from A-Z. Very boring I would think.
Not to say that 3rd edition is like this, but I do know that when characters reach around 12 level or so, that you would have to throw overwhelming odds just so the characters would be more challenged. When it involved combat. 2nd edition had it's flaws like that, but not to the extent 3rd edition had. Then start adding prestige classes, and those orcs no longer were a threat to players.
As a DM, it can be quite frustrating when your characters have a way of walking through a game that you spent hours on trying to be some sort of challenge.
As for the bread and butter of FRPGs it was the roleplaying element. You created a character based on a story that you gave that character. Anyone can play a ranger, but not anyone could play a ranger that told dirty limmericks in taverns, or the bard who sang comical parodies of the deeds that the player characters had done. Not to mention a fighter who was wimpy but was very brave and strong underneath, Not to mention the bad mouthed, hot tempered dwarf priest who gave the others strength when they so desperately needed it.
That was what kept us playing. Never knew what was going to happen next. It was very common for my players to just sit and come up with this stuff, and not do anything in a game. I remember sessions where the time was spent in a tavern talking about the last adventure and all the things, the dirty rhymes, the parodies, the hot tempered foul mouth of the dwarf, and the weakness of the fighter would have us all laughing for hours. Somehow it just all added up together into a very humorous spectacle of the wimpy kid, and the dwarf arguing, whilst the dirty limmericks issue forth, not to mention a comical parody of the last adventure comming out. We would rolling. So as far as wearing gimili, any day of the week. Not to mention it is banana colored. Not this gamer!!!!
No, I am not talking of actors. Or people being great actors. Just those few times, when the great idea is more rewarding than the PC's vs the world. Where every game is dire combat or die. The save the world conundrum. No, I am talking about Tony, who went on vacation during the summer, and wrote some wacky tune to one of the adventures we played, but turned out to be the corniest thing we ever heard, or Sara who played the grumpy bad mouthed, hot tempered dwarf, ever heard a girl try to sound like a dwarf, not to mention have a bad mouth, then William telling dirty jokes that his dad had told some people to fill the time and make everyone laugh, and lastly Jonathon who was the bigger than any two of us put together, play the wimpy fighter. Imagine what we picked on him about.
In the end, I don't think it matters what version of any game you play, or how many different versions you played. I think people are going to easily find themselves settled into the version they had the most fun with and just not want to give up the memories that they share. My group while we don't play very often, our lives have gone on to other things, but everyone of us keeps in contact with each other, and when we do get together our discussions usually lead to those late nights, of throwing dice and fighting monsters and saving the kingdom from certain doom. It is a lot of "Do you remember whens" and " Wasn't such and such doing such and such." Not to mention the being picked on for this foolishness or that. That is what ir boils to around the table, whether square or round, or partially there of.