New Criticism was modish once. So are all methods of reading. The question is not whether it is new or modish but whether we learn valuable things with it.
One of the best things I got from being Director of Women's Studies is that no one can do feminist research or reading without reading across disciplines. And despite not being much into what gets called "theory," as if all interpretation were not a form of theory, was spending two hours once listening to Derrida--thankfully in English.
Why dismiss any "theory" in advance?a