I think "League's Best Point Guard" title is currently up for grabs. I can't say for sure that it's been taken away from the last generation's point guards yet.
I can make strong arguments for Kidd, Nash, Billups, Parker, Deron Williams, Paul, and Rose. I can make believable arguments for Rondo and Arenas.
Perhaps we're witnessing the NBA's Golden Age of Point Guards, much like we did with big men in the 80's.