Granted, I was young in the 80s (Born in '76, Space Mtn Opened in '77) but I don't remember any of our experiences with Space Mtn being as painfull as the standby line is now.
I remember Space Mountain consistantly having a huge line on most visits in the 1980's. I remember the escalator to get to the outside upper deck Space Mountain que area located near the current enterance to HISTA. The line would stretch from the current outside que area, down the escalator and wrap clear back around to Star Tours. Back then they also had the que filled inside the building. Now the CM halts the line and keeps almost all of the interior hallways cleared. 90-120 minute waits were very common during the busy seasons.
Most of the rides that do not have FP's really do not need them. Sure, new rides have long lines but that will fade. Heck, Indy had a 4 hour wait many times the first year it was open! I'll bet in 1-2 more years TSMM will be down to 15-20 minute waits