My hearing is still there and I think a lot of it has to do all these years of listening. My acuity has gotten better even with casual listening with MP3s through my Pod Touch: the mind fills in the rest (or am I actually hearing them since I know where to listen?) There are so many clues that are easily overlooked by the mainstream public.
All of our listening, all these years, has been like going to a gym for the ears. Seriously.
Now as for the rest of my 57 year old body: its showing its age.