Interesting discussion. I think the 70's brought a whole lot of creativity and originality out in the music, and not just the early portion. Depending on how one feels about these genres, it was also the decade of the beginnings of punk, new wave, and techno. Accordingly, I consider groups like Ramones, DEVO, and Kraftwerk to have been tremendously influential, right up to this day. As much so, maybe, as The Fabs.
From my point of view, pop culture peaked at its best in the 70's, sort of fulfilling and completing what was begun in the 60's.
Of course, there has always been and always will be good music to be found at any time. We may have to dig a little deeper these days to find it, though.