1. Agreed. I mean let's face it, the 4 game shows that have been the most popular ones really since the mid 70's have been Price, Jeopardy, Wheel, and Match Game. 3 of those 4 shows still are in production. Each of the shows have simple concepts, and you can just be channel surfing, and land on one of these shows, and immediately you can tell what is going on. Also, to add to the original statement, I think the most popular and best game shows out there, are the ones that are really fun to play along with. Granted shows like Password and Pyramid didn't really have that, and they lasted a long time in different incarnations, but not withstanding shows such as those two mentioned, the shows that have longer runs in the end are going to be shows where you can really get involved as a viewer, trying to give the correct question before the players do on Jeopardy for example, or second-guessing a bid on something in contestant's row on Price is Right, etc. That factor alone makes the show much more enjoyable in my opinion.
2. If CBS decided to do that, it would be nice at first, but after a while it would suffer a case of burn-out like the original Millionaire did a few years ago. It's better just to do them at certain points in the year, like they do now.
3. I do not think Wheel, Jeopardy, or Price, are showing their ages at all. Wheel and J, still consistently rank in the top 5 in the syndication ratings each year, most of the time ranking 1 and 2 respectively. Price meanwhile continues to draw strong daytime and nighttime ratings, so how can you say that these shows are showing their age? If anything, they are just proving that they are that much better then a lot of the standard fare being thrown out there.
As far as game shows slowly fading away goes, I doubt it. Lately, a lot of new shows have been talked about, from Nick's new show Splat which I have not seen yet, Comedy Central's new fare, even a Friday night show on Court TV which is in it's 2nd season from what I hear. Not to mention On the Cover, and Balderdash on PAX, Street Smarts going into season 5, and syndie Millionaire going into season 3. So no, I don't see game shows fading away at all. The genre seems to be picking up again.