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There's still plenty of space opera being produced. I don't know whether I get a skewed perspective sitting in these islands, but most of the written stuff appears to be British, whilst the majority of the television output is American. The tone has changed I think. In most works that you come across now, the 'high frontier' period of exploration, rapid colonisation and expansion has already taken place and the stories generally revolve around the consequences, the power blocs that have developed or something horrible and unexpected that appears out of the darkness and knocks everything over like a house of cards.
For the written word I'd recommend Iain M. Banks, Dan Simmons, Alastair Reynolds, Steven Baxter, Peter F Hamilton and the Warhammer 40,000 universe or, ahem, my good self. For TV you could do a lot worse than the re-imagined Battlestar Galactica or Babylon 5
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