IMO, Paradise Lost, even in their doom/death glory days, weren't anything too special. As for their old style, I think Katatonia pulled it off even better and even improved upon it by adding a "blackened" sound with their early material.
The most disappointing part of the PL music is that I don't think it sounds dark at all. Moody, maybe. But then again, some Culture Club songs could even be considered moody.
I followed Paradise Lost when they played the US with Morbid Angel. I think it was gor the release of ICON .... I enjoyed As I Die
Shades Of God Draconian Times and then I just forgot about them until about 3 years ago and I heard Host and Believe in nothing and ya know its different and not that "moody" metal anymore but if you like PL and really listen to it it still fits in with all the writing of the past it still has that holmes feel to it ... even though I never say them using synths and what not .... its different but it grew on me and I like it. But of course the metal head in me longs for the use of more guitar work and I miss the old days but like they PL says ....