I knew somebody would say Tech, but you're wrong.
He doesn't spit the same as he did ten years ago.
Do some research; that would've been 2000, in case you didn't know.
what are the "good 'ol days?" if your talkin about late 80's/early 90's i got one set of lyricists. if you mean early 00's i got a whole different set.
off the top of my head:
devin the dude
redman
raekwon
ghostface
talib kweli
common
freeway (getting better)
ice cube (hella lookin forward to new one)
jay-z
murs
canibus (just needs to get away from dzk and warlab)
scarface
rza/bobby digital
i'll probably catch shit for this one but....CAGE! he has evolved more than any emcee in my opinion. from his old shit (agent orange) to "movies for the blind" <---best storytelling album EVER, to the "wethermen" side project with el-p/yak ballz/tame one/aesop rock/camu tao (R.I.P), to his side project group "smut peddlers" with mr. eon and mighty mi, to "hells winter", to "leak bros." (him and tame one, whole album dedicated to smoking sherm), to "depart from me". his discography is like watching someone grow up right in front of you. especially if you grew up listening to him and then get to look at his collection and see the transformation.
Maybe not the lyrics part but Nickatina still got flows, so does Method Man, JT the Bigga Figga believe it or not, Yukmouth, Andre 3000 and Big Boi, Crooked I, and Eminem