These battles have been raging on for many years and I'm old enough to know that I was taught the old math. For me, old math meant no technology or math manipulatives. Back then, calculators were adding machines and only the business classes used those. Math for me was computations with a few word problems thrown in for good measure. I didn't have access to math manipulatives and had a math textbook for each grade. As time went on, I did, however, embrace manipulatives and strove to teach for understanding.
Today, people are concerned about the way math is taught, I hear about it often and rely on the trend data to make informed decisions. In Teaching Math 101, you'll see what I believe is important in teaching math.