Couch, I totally see what you're saying, but even the great composers built huge symphonies (etc.) off of very, very, VERY memorable and simple motifs. I think this has been forgotten in many games nowadays, since there's rarely a truly memorable melody or riff or motif to be found, even in some of the really great new games. Hope you see what I'm getting at.
Of course, I also see what you're saying about how the repetition of the older tunes made them more memorable, and now we have a lot more songs in games, perhaps. I don't have the facts, but that seems to be true. Still, I think that, nostalgia aside, the lack of technology actually forced game composers to create really interesting and different tunes. One of my favorite examples is Mario 64, which came out in a time with CD-based music in games was truly all the rage. And yet, though the quality of the samples in Mario 64 wasn't perfect, the tunes were just terrific. I bet you can whistle the hub-world music RIGHT NOW.
However, one of my favorite red-book audio examples comes from Lunar 1 for the Sega CD. Really terrific music, and it definitely got me excited about the future of CD-based games.