Well I'm 29 and the Chevelle was my first car. I have always had an interest in the classics mostly because I was raised around it and my dad had a few. When it came time to look for a car (1993), that was all I looked for. I didn't care what kind of shape it was in I was determined to fix it up.
Now looking at it in today perspective...........
Kids now adays will bolt some parts on an import, but to take on a classic that, to be done right, will take some time, I personally don't see them even keeping a car that long.
But NO, I don't see sport compacts ever phasing out American Classics. Classics are rare and thats what makes them worth so much. You see imports Everywhere, and thats why there not ever going to be what our cars are today. Beside you can't compare a healthy V8 to the sound of a weed wacker.