The most IMPORTANT change in the last 5 years to railpass products is the increasing complexity of the rules governing each ticket. Even when you possess a railpass, it is important to know the LIMITATIONS on its use. I summarize THREE major CONCERNS (validity of the railpass on certain trains, reservations/user fees, and the "flexible-day" concept) below:
The words "Eurail" and "Eurailpass" themselves do not represent just one company, but a consortium of European railroads that agree on a ticket price so that one piece of paper (i.e., your ticket) covers all trains within the consortium for a specified time frame. In the past 10 years, a variety of new products has appeared on the travel market but in all cases, the money you pay for an international railpass has to be split up among the participating railroads based on a complicated formula. All you see is the overall price when you obtain the ticket.
Many travel agents are unaware that several types of railpasses are also sold in Europe. You can, for example, purchase a "Eurailpass" in Munich, but you pay significantly more (between 10-35%, depending on the specific product) than you would in your home country (outside of Europe).