I've been saying the same thing about Slater for a while now; he makes every play like his team is 4 behind and there's 10 seconds on the clock. Even when he would be best served by taking the safe option, he tries to make everything into a big play. This is fine when it works, but he has the potential to lose you the game just as much (if not more than) getting you a win.
As a half, any player who gets older has to get smarter; they no longer have the speed and stamina of their youth to rely on, and must craft their opportunities through guile. Lockyer's traditional strength was in his running game, and since he wasn't a half for the defining part of his career, he didn't have the opportunity to really learn to apply his skills and increase the subtleties in his game needed to offset his loss of pace. The fact that he is still the best 5/8th going around is more of an indictment on the state of halves in the modern game than it is a celebration of his ability.
NSW won Wednesday night's game not through their own prowess, but due to the loss of Queensland's three top-flight forwards and a gun winger, along with a great deal of aid from the referees. We also had a strike centre (Brent Tate) out for the season at the time. The fact that despite all those factors going their way they managed to win by only 12 should serve as an indicator of just how bad NSWRL's position is at the moment.