Firstly, I have to thank hemut.newton! I love seeing these older collections. Rarely do I revisit them, and it's both refreshing and insightful to look back upon them.
In regards to the discussion about Nicholas then and Nicholas now. I don't think one is better than the other. While there was certainly a shift that occurred in Nicholas' work circa 2003-2005 (that's when I would say things began to change slightly), I don't think the change was bad or good. I just think it was natural, or at least, appropriate. I would never really consider Ghesquiere's work minimal, but his earlier work felt at home next to his contemporaries like Helmut Lang, Calvin Klein, etc.
But as fashion moved into an entirely new world, thanks in part to Tom Ford at Gucci/YSL, I can see Nicholas' style evolving into something that feels in sync with the style of the late oughts and the brand new decade (in fact, I would go so far as to say that his new Balenciaga was a key element in defining the look of the latter half of the decade). One could say that his earlier work for the house was more about real clothes that are perfectly designed and executed, and his current work is more conceptual and saturated. And I don't think this is necessarily a negative. Fashion has certainly become more flashy and celebrity oriented, where perfumes and handbags and glossy advertisements unfortunately have become the defining factor of a house's success, and yet he has still managed to stay directional, focused, intelligent and individual, just in a different way than before. I see that he has changed, but I feel as though he has done it for the right reasons...he has adapted to the new world of fashion...he's just such an excellent designer, though, that no matter what he does, and when, he still always comes out on top.
I don't know if that makes any sense whatsoever...