I'm not going to argue the capabilities of old versus new aircraft when all that is offered on your part is nostalgia and hyperbole, with all due respect. It's almost like once we hit the fourth generation of aircraft all regard for innovation has just disappeared, I suppose you think that the replacement of the F-4 phantom with the F-15 was also just a money making scheme for top the brass of Aerospace companies? Whether you like it or not, the F-35 is highly capable and will one day replace many of the aircraft we currently have, one day you'll also see the Blue Angels flying them. You can't just keep adding crap old equipment, it's a lot less versatile and capable than just a brand new aircraft.
Any aircraft cannon, let alone the overrated GAU-8 Avenger, such as a Vulcan will put the fear of fukkit into any poor bastard on the receiving end.
Just because something worked in the past and worked against some third world insurgents doesn't mean it will work on the modern battlefield, S-300/400 SAMs would have a field day against Harriers, F-15s, F-16s, A-10s etc etc
Don't get me wrong, I love all the old birds, but it does them no service to keep them in service long past their shelf life with the main reason being "Well we like it"