Such negativity!
Compared to the rest of Europe, I would say the future of Britain's railways is definitely bright.
High frequency clock-face timetables, greatly renewed/refurbished rolling stock, one of the highest rates of stock use in Europe, fare integration despite privatisation, year on year passenger number growth, a good safety record, Crossrail...
Meanwhile in continental Europe, French rural branches and secondary lines are closing at an alarming rate, TGV passenger numbers are dropping and the network is becoming more Paris-centred than ever. In Italy, similar branch closures are occuring. In Germany, delays have become a chronical problem... Belgium and the Netherlands still haven't quite sorted out the Brussels-Amsterdam HS route (heard of the Fyra disaster?). Shall I go on?
No complacency, there definitely are problems that need resolving and the current system certainly is neither the simplest nor the most cost-effective but don't believe it isn't the case elsewhere.
I agree - you could easily argue that we are in a "golden period" - the railway has never had so many passengers (per km of track), the railway has never been as safe (passenger deaths etc), the railway has never had such commitment to longer term investment (HS2 etc), the railway has never been so accessible to so many people...
...yet the glass is permanently "half empty" for most enthusiasts - they'll complain about anything - the most minor grievances get aired on this Forum (or we see complaints that too much money is being spent on the wrong areas of the country!).
If this isn't a "golden period" (which I know some people will argue about) then I don't know when was.
The 1990s were a time of cost cutting (that led to infrastructure problems that led to crashes).
The 1980s were a time of Pacers, closure of Woodhead (and almost S&C) and Serpell.
The 1970s saw more cuts and industrial action.
The 1960s were a time of Beeching and mass closures.
The 1950s were a time of inefficiencies/ barmy management (still building steam despite technology having moved on).
The 1940s were a time of austerity... so when was the "golden age" if not now?
Every decade has had it's problems - this decade is probably about as good as it's got (but we'll complain about things like lack of bins and miss the bigger picture).
We could do with more long term strategy, but we've got agreement on what'll happen in twenty years time (HS2) which is "longer term" than any previous investments I can remember.
The potential for breakdown between Central Government (Df), infrastructure (Network Rail) and local/provincial government (Rail North, WAG etc) concerns me, but this needs to be seen against the CP5 commitments (which are more generous than any equivalent period of investment in my lifetime)
10-15 posts before a return to BR to solve everything
It's traditional
Always amusing to see enthusiasts moan about Government inefficiencies, moan about "DafT" (tee hee hee :roll

, moan about interfering civil servants and yet decide that the answer is nationalisation!
Would you want the railways under the yoke of the same austerity that the Civil Service/ Local Government etc are suffering under?
1. Railway costs are too high (reflected in the fares)
Massive government subsidies to operators (higher than ever before), yet also massive fares. Someone somewhere is pocketing shedloads of cash...
This is a tricky one.
Most/all railway costs have gone up by more than the rate of inflation (fuel, infrastructure, staff wages, insurance etc), and I don't think that any "British Rail" would be able to reduce those (other than staff wages, which may end up seeing 1% wage rises and closing the final salary pension scheme in line with Civil Service etc) - so I don't think things would be *that* much cheaper under any "BR".
I certainly agree that costs are higher than I'd like, of course! I just don't see an easy way to cut them (even if you could run the railway as efficiently as today without taking any shareholder profits, and scrapped half the "middle management" then it'd probably only be a few pence difference to the average ticket and be dwarfed by the increases in insurance/ infrastructure/ fuel costs)