I have been using a pair of these cables in my high end system for over 10 years and I feel that these cables are very good in the absolute, and are an amazing value for the cost. In my system, they have great speed, clarity, dynamics, bass, and detail. They also seem to be very coherent - that is, no one part of the music seems to lag behind the rest. I agree with Red2 regarding hall perspective. The Taras do move you a bit closer to the stage compared to other more recent designs I've heard. This is not necessarily a bad thing, depending on your preference and associated equipment.
Despite my satisfaction with the Taras however, I decided it was time to see what a newer cable design could do for me. So last night I had the opportunity to audition a pair of Shunyata Lyra cables in my system. BTW, an 8-foot pair of Lyras list for around $1600, while the price of the Taras is a small fraction of that price. In my system, the Lyra cables did better the Taras in most areas but only by a surprisingly small margin. That is, the difference wasn't obviously apparent right away. Maybe I was expecting a larger difference but it took some listening to see that the Shunyata cables did offer more detail, a somewhat larger soundstage, and a slightly less "energetic" treble region. They also breathe more life into the music and place more air around voices and instruments.
Two areas where I preferred the Tara cables, however, were in bass and dynamics. The Tara's offer a bit more bass and more kick or drive, which I like. They also have a nice, clear and open sound.
So to your question - "do they still hold their own?" against recent designs. I'd have to say that yes, in my system they do, especially if you'd like a somewhat more front row perspective. I am planning to continue my audition of the Lyras this weekend and if I do end up buying them, I think I will hang onto my Taras because I doubt I'll ever find performance this good anywhere else for the price.
Good luck!
Kurt