There have been numerous articles in the various professional magazines (NEJM etc) in recent years bemoaning the loss of such clinical skills, and there is some suggestion that the inability to diagnose clinically contributes to the rise in healthcare costs. Almost every med school has one aging Yoda who can lay his hands on a patient and tell you with remarkable accuracy what is wrong with them. Unfortunately this skill is becoming an endangered species, thanks to science.
Unfortunately, these Yoda skills are difficult to confirm or quantify. As much as we respect them as a profession, that's not the strength of modern medicine. Assuming we can't pick and choose our characteristics, I would take the precision of modern day testing, antibiotics, etc. over the snake oils of the past.
I'd also argue that another signifcant contributor to healthcare costs is our litiginous society, which I'm sure L2D can discuss. Most doctors don't WANT to order a battery of tests to everyone who presents to the ER, but if they don't, their lapses may be used to convince jurors the patient's life would have been saved had they gotten that CXR or whatever. Defensive medicine is too pervasive these days. We think less about doing the right thing, more about not doing the wrong thing.
"Dr. Osler, are you telling me that you cannot, in fact, smell pus percolating in a female's pelvis? Then you, sir, are not fit to be a physician."