As to Schwartzkopf being the last of the great generals, I gotta say I doubt it. There are some good comments on the issue of Schwartzkopf's "greatness" and I won't weight in further. I will comment, however, that "growing" great generals (i.e. talented and effective warfighting leaders) is something that is a primary concern of the services and the Joint community. Although there are certainly too many "administrative generals", there are also a cadre of capable people who focus on being great warfighters.
This year, the Army's promotion board nominated 39 people from O-6 to one-star. The Marine's list is significantly smaller (I think they took 7 people this year). The Navy and Air Force both were in the 30's I think. Among all those officers, there are ass-kissers, and incompetents, and the like.
There are, however, a bunch of bright (I mean seriously smart), experienced, loyal, and hard-as-steel people who train and prepare incessantly for their chance to execute a Presidential ass-kicking license. They dream of one day being a Joint Task Force Commander (CJTF) or even a CINC with the authority to break things and hurt people in support of national policy. I know a couple of them and I feel sure that, in time of need, this nation will still have outstanding warfighters available to do the job. Even the DoD has a hard time of getting in the way of that.
I would further point out that there ain't no "clinton appointees" with General's (or Admiral's) stars. Flag officers are promoted by the services with legislative approval.
Just my $0.02
------------------
Best,
- Jawper