Is Seinfeld still a good pop-culture reference?

I didn't watch a lot of Seinfeld during its original run. Sure, I watched the occasional episode, but it wasn't until the reruns and marathons that I got caught up and learned to appreciate the creativity, intricate plotting, and nuances of the show. If I ever watch to watch an episode or four, I just have to wait a few hours and then some channel will be running it. Like The Fresh Prince of Bel-Air, Seinfeld has never been off the air since the 90's.

So is it still relevant as a pop-culture reference?

The last new episode, not counting the Curb Your Enthusiasm reunion, aired May, 1998. It's been 14 years, and there are people in this world who weren't alive when Seinfeld was part of Must-See-TV. We've had two Presidents since then and a lot has changed in the world. Yes, we have reruns, but is it still something we can reference in conversation? Can we still say "yada yada yada" or "serenity now!" and people will know what we're talking about? What about "low talker" or "They're real and they're spectacular?" If we rant about double-dipping, claim we work for Vandelay Industries, or say hello in a weird accent, will anyone understand what we're doing?