Maybe it's because I'm a generation or two removed but I honestly can't be too mad at the 'New Times' collective. Yes, they were politically useless and inept, but I mean all the British left during that time was - and at their best, their insights were cutting edge. They (specifically Stuart Hall and Martin Jacques) coined the term 'Thatcherism' and had actually argued very convincingly that it was a mutation from conservatism as previously understood, that it was an authoritarian populism fuelled by historical narratives that Britain had never let go of, and that the kind of model of social democracy that had existed for a generation was not going to hold up for much longer - nor would any push from the British labour movement as it existed be effective.
I think that they were generally right but for the wrong reasons - the point of investigation was 'post-fordism' and the implications of it to many kinds of social organisation - notably in the workplace, in manufacturing, to labour organising, etc. and they seemed to believe that this foregrounded the conditions for neoliberalism, rather than the other way around.
I guess not too many people of that generation can forgive their caping for Neil Kinnock - and their overlooking of the kind of reactionary politics he was pushing for, and the deleterious effect that was having in the various caucuses - any specifically left-wing caucuses in Labour eg. Black Sections, Gay Labour Group, Women's Sections (although their advance was more consolidated, and their issue was more neglect than overt attempts at demolition). They had a (at best) noncommittal stance to the Miners' Strike of 1984-5, and frankly - they were overly focused on the developments in Europe, if not outright Eurocentric. That they basically used to Communist Party to cheer on anything that Labour did as it was unmooring itself from even the semblance of collectivist politics, I'm sure gave a bitter taste in the mouths that were there to experience it.
Alex Callanicos' arguments against them look mostly dated and horrible - as Trotskyist polemics usually tend to be, but it made sense at the time to strongly react against them given how aloof they presented themselves as. A. Sivanandan's critiques as far as I'm concerned were the gold standard, and no other during that period comes close to giving them an excorciation of that kind. Raphael Samuel's is a distant second.
'New Times' doesn't engender aggravation from me, nor do I feel inclined to call Stuart Hall a postmodernist - I think that they only serve to prove their point about 'left economism'. But it rather sad that the only ones appreciative of their work are Guardianista columnists who were uni students at the time of their publications, waxing on about how they inspired a generation (to go to the NGO-to- Labour spad pipeline maybe) and saved Labour or such tripe. I think that kind of legacy says it all about the extent of their influence, really.