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Yes, this is trivia, but that's inevitable when talking about "the best" tv show or "favorite" opening credits. I might go so far as to say that everything to do with television and the entertainment industry is trivia. There's a lot of trivial information which is important only in discussions such as this one. Today's youth simply doesn't have the experience to judge older shows, never having lived through them.
Yup, kids today don't watch enough tv...
I think you're overstating newer attempts to squeeze time. Most "classic" tv theme songs were a minute long. Some were reprised at the end of the show, others not. Producers always tried to keep the time for intro and outro short. Now, we don't even have as many reruns and syndication usually just hacks out a scene from the middle. Indeed, one of the best reasons to watch tv on DVD is to see the real end credits, not those unreadable things squished to make more ad space. I might go so far as to say that if producers made a better product, including a good opening and watchable credits, they wouldn't have to sell as much ad time to pay for it.