Well, about Howard, et. al. being an influence on younger readers, I remember when I was a teenager in the 90s I went all out to track down Howard, Leiber, Moorcock, and Lovecraft. I mean, heck, Leiber was reprinted by White Wolf's imprint not too long ago. I had to work at tracking down original Howard stories though, and at the time, it was all mixed with De Camp stories. At any rate, this stuff still has a much more profound influence on me and my D&D gaming than Tolkien or any modern writer has (though I love Guy Gavriel Kay's and Patricia McKillip's stories).
The point is, to make a blanket assumption that young gamers are going to lose these influences or not seek out these influences is bull. If the stuff is out there, and the word is out there, young people will seek these stories out. I did. Lots of my gaming friends did. To just throw up your hands and say "Well! Kids don't read this stuff! There's no point to referencing these stories at all!" just makes sure that these fundamental influences are flat-out lost. Talk. Young people do listen. Give them at least some credit. Sheesh.