I don't post much, but I have some thoughts as a worship leader and worshipper.
First of all, I don't believe that any form of worship or praise, whether it is contemporary Christian music, old hymns, prayer time, or service should ever be done because it "does something for me". Worship is about God, and no matter what type of music or action it is, it is there to glorify God, not give us any type of emotional high or self-satisfaction. Worship is about showing our love for God, not about feeling our love for God.
Second of all, I think there needs to be a much more distinct differentiation between Christian music and worship music. Some people use music as a medium of worship, much the same as prayer or service. Other people use music as a medium of expression, expressing their feelings about Christianity and God. Neither is wrong, though they should not be mistaken for each other. Take Amazing Grace as an example. It was written to speak of the great grace which God has shown us, and what the grace will one day lead to. Dare You To Move by Switchfoot would be an example of a Christian song, but not of a worship song. It addresses Christian themes and expresses one's opinions/feelings about them. Before one can criticize the state of Contemporary worship, one must realize the difference between these two.
By the way, I lead a contemporary worship type deal in which we try to play a lot of old hymns. I think that the classic hymns are much more melodic and musical, and sometimes have much "deeper" lyrics, not to say that there isn't modern music that does the same.