The changes that affect this are many, and you'll see when you play the game.
Landshernichkteflatuten (German Landscknecht UU) have been debuffed in early game power along with their pikeman cousins, in that they take significantly longer to get to. Before, Germany could easily rush to CS and pump them out, so you'd see those huge German armies of them which could go toe-to-toe with swordsman in what was really the classical era. Also, they are less effective in the renaissance era. You truly see the armies merge as knights give-way to muskets supported by outdated pikeman and crossbows. Eventually, you just want those units gone. Before, a well upgraded pikeman could last you quite some time, but not so much post G&K, as upgrades really don't mean as much as they did before.
So with the revised mechanics, now they can demolish swordsman, but the cheapness isn't so great when your economy is that much stronger 40+ turns later, and other medieval units will stand up to them and take just as long to research. Crossbows take the same number of techs now, just a different path, and knights and long-swords are only one or two techs greater if that's your counter. Simply put, you are not going to have an army of pikeman clobbering classical era units and ready to shrug off medieval and renaissance units thanks to upgrades.
In multiplayer, if your opponent sees you as Germany and thinks you're going to pump them out, he'll be waiting with his crossbows. It just doesn't make sense to pump them out knowing full well you're going to need combined arms, even old Bismark doesn't do that anymore. Their advantage is that you get a couple of extra turns of productivity in that era as Germany, since your army is a bit cheaper to build.
As to the lancers, I don't know off the top of my head, I think it's at least 6 or 7 more techs to get rifles over lancers now. And lancers really don't suck anymore, but that is coming for a guy who actually built 2 or 3 of them as fast scouts and flankers. I liked them before, but now I enjoy them. Haven't got to anti-tank and helicopters yet, so I'll reserve those opinions for later.