That is kind of like saying that there haven't been any engine advancements since 1941 because the Whittle jet was flown then and we have jet engines today!
The hp increase of the postwar civil Merlin and Wright 3350 is a bit remarkable from 1945 to the late fifites.
I think there were some big advancements based on logical evolution to create more efficient, reliable and usable engines. This is similar to the evolution of the jet engine since the centrifugal flow design to the high bypass fans today.
Granted, we all are into old stuff or we wouldn't be on this site, and it is a history based interest. So progress has left the piston behind as far as development. The modern day piston manufacturers are way behind as well, mostly because of the need to remain in the FAA's certification envelope. Diesels are coming fast as seen by the cool little Diamond twin engine diesel powered airplane that has won certification here in the US. That is truly a positive direction to see manufacturer's going and it is the future of general aviation, which is mostly piston aviation.
It isn't new technology on the face of it, but it is very evolved and refined.
Chris...