Hm… if I had to pick my favorite era, it actually wouldn't be the 90s, it would be the early 2000s.
It really seemed like a transitional period where many of the mediums I took part in and enjoyed where getting updated for the 21st century.
Cartoons and Anime started using Computer Coloring and Vector Correction in conjunction with traditional animation making everything seem more fluid, and still where not sacrificing the quality of the writing. This especially helped Anime transition out of the 1000 Episode of Filler phase, where suddenly they didn't need to constantly reuse Stock Animations and they didn't need to use a ton of looping energy blast charging footage.
Video Games had stepped into the PS2/Gamecube Era where hardware had reached that point where Visuals could flourish but 3rd Party developers wouldn't sacrifice Gameplay for it. I am quick to admit that N64 Era Videogames are an absolute pain for me to play because they cause Simulation Sickness, so I definitely look highly upon the 6th and 7th gen consoles.
In the late 2000s, Animation took a nosedive in America and quality plummeted as soon as Cartoon Network changed management. Anime mostly started playing it safe but managed to keep a consistent quality and pumped out at least one masterpeice a year. And Games unfortunately spiraled downwards into the cinematic too much budget on visuals buggy messes they still are today.
That's not to say there where not positives to that era (online gaming, etc).
Now then, are the downsides I mentioned seem to be getting any better?
Well… I would say yes. Anime may be heading into another boom. 2010-2014 has a ton of great Anime Shows I and a great many other people absolutely adore to death. And Cartoon Network is getting quite smart about their Dubbing Strategy again, airing Space Dandy at the exact same time as the Japanese Release in order to compete with the internet. Video Game visuals have nearly reached the peak of the law of diminishing returns, so developers are starting to focus on game quality again.
I also think My Little Pony, Legend of Korra, and Gravity Falls has merit to Cartoons as it shows we are still capable of making cartoons with Soul.