Wales completed their third Grand Slam in seven years by beating France 16-9 yesterday, and also reached the World Cup semi-final last year.
However, despite their success, Gatland believes that it is impossible to compare them to the 70s side, which is widely regarded as one of the greatest ever.
"It's different times, different eras, professionalism versus the amateur era," said Gatland.
"It's hard. It would be interesting to see the teams of the 70s if they were playing South Africa, Australia and New Zealand every year.
"We are not at that level yet, but our big aim is to be consistent in beating the southern hemisphere sides and we have a young enough team that over the next few years hopefully we can do that."
Gatland has been the coach of Wales since 2007 after spells with Ireland, London Wasps and Waikato.