Here is an interesting post by an economist named Don Boudreaux where he gives a sense of how much our standard of living has improved in the past 30 years (since 1975).
He does so by comparing the prices in a 1975 Sears catalogue to current prices listed on the Sears.com website. However, the problem, as you know is that you cannot just compare prices between the two years because of the effect of inflation during that time. So instead, Boudreaux uses the common teachnique of measuring how much each good would have cost in hours of labor in 1975 versus hours of labor in 2006 for the average American. This method allows a simple comparison and he explains in the post where he gets the data and the simple calculation he makes.
The most drastic reduction in real prices that he found was for Sears' cheapest answering machine. It cost 20.43 hours of work in 1975 and 1.1 hours of work in 2006.