I don't think it's so much a case of coming back as making itself a little more known -- it's always been there, "Buble-ing" under, you could say.
My friend e-mailed me last month and wants me to write a love ballad that he can record. He reckons I'm the only guy cut out to write that kind of sentimental sh*t (no -- he didn't word it like that). That's what listening to too much Elvis does to ya! Music for the soul.
This is the kind of music that will never die. Not so long as there are people around. And people have feelings. It's that simple. That said, modern trends have dictated that you like artistis and bands with practically no singing ability, in my opinion, or as you have alluded to, material that doesn't involve singing at all. It's a sorry state of affairs. Music should be utterly democratic and people should be free to listen to whatever they want, but for me personally, I vastly prefer "traditional" music to modern material (with some noted exceptions). It would be nice to think that more people are embracing such stuff.
Perhaps that all seems a bit snobby and politically incorrect -- and maybe it is. But I am on the other side of the fence currently. If I tell someone I like Elvis, I am more likely to get funny looks than a genuine discussion out of it. It burns me a great deal. I never put down another form of music to someone's face. But most people don't extend me the same courtesy. Maybe this new movement, if it really exists, will change things.