One technological advancement in the past decade, as far as clubs go, has been most helpful: adjustability. Starting in 2008, the U.S. Golf Association and the Royal & Ancient allowed clubs that easily could be adjusted, typically with a simple torque wrench. Players since have been able to tweak lofts, move weights to benefit launch angles and spin conditions, change shafts without a torch and epoxy, and change the lie angle to help hit straighter shots. The greatest benefits have been with drivers.
As we discussed yesterday, the ruling bodies are hinting that they're ready to start taking on the distance issues facing golf. At its core, the problem has been that in order to allow for technology that lets the average player hit it a bit farther and straighter, we've allowed elite players to hit the ball ridiculously farther and straighter. That technology creep is likely to be significantly limited if not even rolled back in the coming years.
Getting your clubs adjusted to your specifications isn't exactly a new thing. As Lusk points out, what is relatively new is the ease of making those adjustments and the granularity that's possible. I'd expect to see adjustability, and having fittings made easily available, with purchase, to be the next arena of competition between the major manufacturers. Or, put another way, "Our clubs may be limited, but our fitting system will get you to the edge of that limit more consistently than our competitors. Maybe even beyond it!"