Bones, I agree, it's a case of expectations having been raised to such an unprecedented level that nothing less than a legend was born that day in 1956.
For me at the age of six, Grace was my favourite princess. Around that time, I was given a storybook featuring the (then) Princess Margaret Rose, the present Queen's sister.
Margaret seemed just that - someone from a story - whereas Grace came across as a living person !!
Through her stage training, Grace was enabled to play the role of her life - a Princess. Her daughters are often compared to her (often negatively), but whereas Grace chose her role of a lifetime, her two daughters had no such choice.
That's why I feel they need less of our criticism, and more of our support.
As to "big names", Buzz Aldrin came to the Rose Ball when he would have been flooded with invitations to celebrate the "moon walk" anniversary, but he chose Monaco. Monaco Telecom commented on the fact. (I could find the link if required).
Caroline upholds the legend quite well and has done a wonderful job. Albert is the one being held accountable for the negative comments. The way to deal with the legacy is what Caroline is doing. Celebrate and honor the legend, uphold the values held dear to the legend while creating your own legacy. Caroline has done well. Stephanie has also done remarkable well with her humanitarian efforts for aids. It is she who is known to look after the people who are citizens of Monaco. She is held in very high regard. What is missing is a younger jetset to bring in fresh faces and give a much needed vibe --- making it a place to be seen and photographed. That is what will bring the magic back. Albert has not been able thus far to accomplish this.