I think this is an interesting topic, from a few angles. Regarding new vs. old, once upon a time "Amazing Grace" was new. I'm not sure if all Christian denominations now have this in their hymnal, but for many it is now a staple. How did it become a staple, and was it at first considered too new, or too straightforward in its statement of belief?
A second thing is that I (like others here) feel that many of the songs that fit the CCM category just aren't really that good musically. No matter how spiritually inspired a composer might feel, the resulting composition might not be inspiring music. I think that those of use who have some interest in religiously inspired music (from any faith) might have heard many songs in this category that did not inspire us at all. In my experience, the good ones are the exceptions rather than the rule.
And the third thing is how do you make a good CCM song fit in a church service....if it's possible at all. Our church has a band made up of high school age musicians which performs religious songs in a more contemporary style. These are usually performed at a second service once or twice a month, and even the adult attendees who may not love the style see the value of helping these young adults get better connected to the church. But these type of songs would not work as well if they were performed every week in the first service, which is more heavily attended.