I own an apartment in the same few blocks that is featured in the article. And I have lived in NYC for many years (In fact I know the stores from 1990s that are written with forlorn). Yes that stretch of Bleecker had gone fancy and now empty. But there are stores around Bleecker that are from Bob Dylan days that still thrive. Mamoun's Falafel, Bleecker Street Pizza, Porto Rico Coffee etc. Even the newer food stalls are very affordable and you can get a meal for $8 (Turkiss, Thelawala, etc). Some of the leather shops from early 80s are still around. If someone from 1980s were teleported to today's Bleecker Street, they still have stores they used to go to. An d if I were to bet, they would acknowledge that Bleecker was in a state of flux even then. Old anchoring, but making way for the new, but largely still remaining "Bleecker".
My parents don't mind taking the subway these days. Back then they'd drive, though, for sure. My dad also had a bike back then, still the fastest way to get around Brooklyn...
EDIT: my coworker, who lived in the city in the 80s, does in fact take the subway, but only because it's hard to hail a taxi out in Queens.
No, they wouldn't take the subway...everyone knows that to go back to the 80s, or to arrive from the 80s involves a pimped out DeLorean car, and a creepy friend-like association with a mad scientist. ;-)
Porto Rico Coffee is an awesome spot. I actually go there every week or two to get fresh coffee. Awesome place and its amazing that you can get great coffee beans for the same amount, or less than you could get some of the stuff that's in grocery stores.