What's funny is, most young people I know that care about music, have their iPods filled with stuff like the Who, Beatles, Hendrix, Zeppelin etc. The music (for shame) of their parents!!!
Just to deflate that a little, I doubt that all of the artists from the '60s and '70s only listened to their peers. I think it's always been a point of credibility to like older stuff. Also, I thought people who care about music listened to vinyl, not to iPods. Ha ha.