For the most part, monsters have remained the same strength as when they were initially introduced. As new monsters were introduced, however, their difficulty was scaled to the current "power level" of the game. There is no silver bullet to reversing power creep (much in the way there is no silver bullet to "fix" the economy). This is to say that an earth elemental has been as strong as an earth elemental for a good while now. What hasn't changed, however, is the quality of loot that is obtainable at this low end. We hope to ameliorate that by rolling out "shame-style" loot globally as well as reworking how we display and educate item properties to try and lessen the learning curve so both the casual gear collector and the min-maxers will be happy.