IMHO - yes, airfares are higher then ever. But at the same time they are lower than ever.

Leisure/vacation travel is indeed higher.

But most of my travel is business, and it is incredibly cheaper. Prior to 9/11 - I was living in Dallas. Any business flight (no Saturday night stay - remember those rules?) to either coast was $2000! Today - once in a great while, list minute, it will be $1000, but is typically more like $500.

Basically, the gap between business and leisure fares has closed.