Well, the miniseries ELIZABETH I which was shown on HBO over this past season: it wasn't "tarted" up or overblown with CGI (though it was certainly used). British cast, done beautifully.
The point I'm making is that not every modern production done on historical themes is a hopeless mess. Some like TROY were pretty terrible. But the fact that an ELIZABETH I can be done and done so well proves it CAN still be done.
I wish they would do more of them.