When you really think about it, SNL has never really been consistently good. For as long as I can remember (at least 20 years), people have always complained about how not-funny it is. Always. Even in the Sandler-Farley-Spade-Myers-Carvey-Hartman hayday. I doubt that there are more than a handful of full episodes where you said: "now those 90 minutes of skits- that whole show- was awesome. Every skit."
I think people forget about all the really really bad skits through the years when they see those "Best Of...." episodes or DVDs. I mean, when you break down years of a show into a 60-90 minute compilation of Best of Adam Sandler, Chris Farley, Phil Hartman, Mike Myers, Dana Carvey, Will Ferrell, even Eddie Murphy or John Belushi, of course it'll seem like the show was totally awesome "back then". But honestly, I've seen many full episodes from the 70's, 80's, 90's, and from this decade, and it's hard to sit through a whole show without thinking "lame".
I guess my point is that SNL seems more relevant now because of all of the election skits, but it'll go back to "SNL sucks" and "when will it be canceled" soon enough. The opening political skits from the past couple of months have been funny, but then, after the monologue, it's pretty much downhill.
I didn't see this Saturday's show, but if it was great, then I'd say that it's the exception and not the rule. And probably due to the guest host. I'm just saying that I don't think that it's any more funny now than it has ever been.
Paul Rudd is one funny MFer though.