This is the problem, there isn't an objective way of comparing it. I think both the criteria you've used (where clubs are now, what did some players go on to do) are rational, but far from conclusive and they don't really give a comparison as to whether the overall standard of football was better. There's just too many variables and it's too subjective. I remember the football then as being distinctly fourth tier, but of a reasonable standard nonetheless and largely enjoyable to watch whereas this season most teams have been bloody dire and the games have largely been dire to watch, although I quite enjoyed the Crewe game (but that was for entertainment value rather than any great standard of football). But that's just my view and as I have already said, I may well just be looking back on the Wise/Sturrock season with rose-tinted glasses. Think we'll have to agree to differ.
By way of justifying my test as fair, I'll offer a similar exercise from 3 seasons later when suggesting 09/10 was an unusually strong Div 3, with 7 strong sides in the running. That strength shown by what several of the players went on to do higher up.
Norwich. Fraser Forster, Chris Martin, Grant Holt, Wes Hoolahan
Leeds. Jonny Howson, Bradley Johnson, Jermaine Beckford, Robert Snodgrass, Max Gradel
Us. Charlie Austin. Jonathan Douglas
Charlton. Rob Elliot, Jonjoe Shelvey
Udders. Alex Smithies, Lee Peltier, Gary Roberts, Anthony Pilkington, Jordan Rhodes.
Soton. Kelvin Davis, Morgan Schneiderlein, Adam Lallana, Rickey Lambert, Olly Lancashire
Millwall somewhat bucked the trend by not really having a stand out individual. Steve Morison had a bit of a go higher up with Norwich and Leeds, but back to Millwall.