My bestest memories ever were of the raves i went to and DJ'd at back in the 90's. Most of your first generation ravers though graduated college and went on to marriage and kids and now listen to chillout and ambient.
The rave scene has gone back underground here in the states after all that "Aw Hell raves are now in Rolling Stone time to call it a day." business. It's huge everywhere else on planet earth. I still see rave flyers here and there mostly at small music stores and on fellow DJ's MySpace profiles. Like most movements it has it's moment of popularity then obscurity then resurrection in a new but similar format.
In the 20's & 30's it was called swing
In the 50's it was called Doo-Wop
In the 70's it was called Disco
In the 80's it was called Funk
In the 90's it was called Techno
Now it's called Electronica
In the 90's we were DJ's now we're producers, programmers and arrangers. If you want to see how big it is in Europe check out
www.ministryofsound.com although there they just call it dance music or trance. It seems Americans are the only ones still using the word techno.