I never cared for romance stories in my cartoons when I was a kid but now that I'm older I really appreciate and look forward to them. Romance can really make or break a story. Final Fantasy 8 is a good example of how too much emphasise on romance can be a bad thing. It was so forced that it really soured the game for me. But if handled well, like in Final Fantasy 9, it can feel much more natural and enjoyable.
There are several animated shows that offer some very nice romantic stories today. Avatar is a very good example. Romance is one of the key elements to the show and it's handled very well. Many animes today also feature plenty of romance. So I don't think there's any real animated romance drought going on. You just need to know where to look.
