I'm also a child of the eighties so most of the cartoons I grew up with were basically 22 minute toy commercials (with real toy commercials in between). I just want to say, I don't think they would be able to get away with a naked kid in a bathtub today, no matter how cartoony it was, unless it was Simpsons or Family Guy or one of the "adult" cartoons. As for Tom and Jerry, I think the "mammy" character would be enough to keep them out of reruns today.
Anywho, as a result of my upbrining I'm more interested in action cartoons with engaging plots then funny cartoons. I recently got a copy of those Fliescher Superman cartoons for like a buck at the dollar store and practically drooled the entire time I was watching. I had only seen one or two growing up and now I feel like we have truly stepped backward as far as animation goes. It just seems like studios stopped trying. Even the Batman cartoon from the early nineties pales in comparison, which everybody has been trying to make cheap knock offs for 15 years now...including WB! No wonder anime is so popular, at least it looks like they try.
They still rerun Tom and Jerry on Cartoon Network (and sometimes Boomerang)...