I think many of us are proud that BYU is so hard to get into now (based on GPA and ACT). But that does not necessarily translate into BYU being a better university. The kids may be smarter than they were but I've seen no proof that the university has also improved (I also haven't seen proof that it hasn't).
The high ACT / GPA numbers that you see is NOT a reflection of BYU. It's a reflection of supply and demand. There's roughly 30,000 spots available for an ever-growing LDS student population. And because BYU is totally unique, it has a virtual monopoly on certain kinds of students. So while I respect the current student body at BYU for their high scores, I don't necessarily think that BYU is a better university than it was when I went there when ACT and GPA requirements were much lower.