There is no doubt in my mind that the feeding frenzy is over for the time being. Good cars are still selling for decent money, but it is taking longer and buyer's are much more cautious compared to 2005. I think this is good for the hobby personally as things got way too crazy last year. I haven't seen too many records being set lately, so I can't support that comment, but I have seen a few cars go for good money, but they were good cars
Documented, original drivetrain, rare/hi-po cars will always bring decent money...it's the "others" that are suffering.