I agree the equipment (especially helmets) is better is many respects than it was. But, unlike years ago, much of the equipment today is cased in hard plastic, which can result in more injuries to the players they are hitting. When I was a young hockey player, the shoulder pads and elbow pads I wore were soft, now they are like suits of armor.
We should also talk about sticks, with the amount of flex these composite sticks bring, the puck is coming off them much faster and harder than the old wooden sticks, making it much more dangerous for shot blockers.