Sadly, the lure of the mega church growth program has made the leadership change directions. The focus on the Word and Sacrament has been turned by some to presentation and showmanship. No more is focus being paid to the law and gospel of the Bible, but more and more on things like the Purpose Driven Life, guitar bands, and being seeker friendly (whatever that means). Couple that with a lot of the older rural churches slowly dying out (like a lot of the local towns), a very suspicious election last year that resulted in a class action lawsuit (in which the current synod president is saying is invalid, since Pastors are not legally members of the Synod!), things don't look that good. That doesn't even take into account the fight over the prayer during a 911 interfaith (not just inter Christian) event at Yankee Stadium!
Also, there are a lot of those who flee the ELCA and end up in the LCMS who want to change a "few things". Woman's ordination is being pushed quietly in certain circles, which if that ever happened I would lay my BOC (Book of Concord) on the pews of the church I grew up in and leave with much sadness.
In short, while doctrinally the LCMS remains (and in areas like the birth control pill getting more) conservative and orthodox, there are worrying signs that the many in leadership positions are not. Having seen this play out in the ELCA, I am not that optimistic that things will remain so. To many have wanted to build huge buildings and congregations, while neglecting that there is more important things than the size of the gym.
You mentioned the mega "churches." I have listened to some of these "feel-good" purpose-driven stage-shows. Well, some of these so-called churches will be closed on Christmas!
Kind of tells you what's it all about, doesn't it?