Anyway, for as far as I know, we don’t live in Ancient Greece or in the Enlightenment, and their interpretations of rationality are out of date.
In fact, technically speaking -you know, from a modern point of view-, metaphysics, epistemology, ethics, politics and aesthetics are all out of date.
That is the modern consensus, indeed. However, in reality (assuming there is one), philosophic truths are not like fashions that go in and out of style. If something can be proven to correspond to reality (and it is among the primary goals of Objectivist epistemology to demonstrate that this is possible), then it is true once and for all, in all identical contexts, and immutably so. (I’ll have to look up the Greek and Latin root words; someone else might tell you first).
In fact, just as Ayn Rand could (in a certain sense) be viewed as a more extreme or consistent version of Aristotle, all of the moderns can be traced back to similar roots in Ancient Greece. Specifically, Plato and Heraclitus seem to have the modern world under their spell, but in a much more extreme and consistent way than they would have predicted. The very idea of philosophical principles becoming “out of date” reminds me of Heraclitus’ famous statements, “Everything changes; nothing abides,” or, “One may never step in the same river twice, for new waters are always rushing in.” There’s nothing “new” about modern philosophical ideas in terms of fundamentals, though-- it’s just the extremes to which they take some of their conclusions that’s new.
If metaphysics and epistemology are to be the foundation of philosophy, I can’t see how philosophy couldn’t ever not be speculative, and I don’t think that that is what modern philosophy should be. I mean, if we allow philosophy to be speculation, then religion for example, would become perfectly viable philosophy, which I really don’t think it is anymore.
It’s not speculative. But the reason is more involved that I could expound here-- my best suggestion is to read Introduction to Objectivist Epistemology, even though you said you don’t want to read. It’s very clearly written, and I think it would end up saving you time in the end.
FeatherFall : I survived all nine works of Terry Goodkind’s Sword of Truth series, does that grant me a chance at ploughing through Rand’s fiction? 
I know this wasn’t directed at me, but I just want to say I think AR is a much more interesting writer than Goodkind (in fact, he plagiarizes her pretty often, in the “loose” sense of the word meaning copying a line written by another author verbatim and treating it as if it were your own). But if you liked Sword of Truth, I think you’ll like Ayn Rand’s fiction even more. There are a lot of Sword of Truth fans at this forum.
Again to Bold Standard : Rand seems to reject all progress made in philosophy since Kant… I was going to ask whether she is like the pinnacle of scholastic philosophy, with man instead of God as knowledge’s point of emanation? 
No, she only rejects the destruction and havoc wrecked since Kant. She makes good use of the progress-- she’s not a reversion to pre-Kantian philosophy; she provides a new, revolutionary basis for rejecting Kant. (Again I can refer you to ITOE for a precise explanation). She is not like scholastic philosophy, with Man in the place of God. That would be what she would call the “primacy of consciousness” fallacy, which holds some consciousness or consciousnesses as having power to control or dictate reality. She upholds “the primacy of existence,” which holds existence as fundamental, and consciousness is then only a perceiver or “spectator” (as moderns would say) of reality. She believes in volition, but she describes it as merely the power to think (exercise the mind’s ability to perceive reality) or not to think. Thinking beings are capable of rearranging (according to laws of nature) reality, but not creating reality.
For as far as I know, saying byebye to metaphysics doesn’t mean saying byebye to philosophy. It ‘just’ means saying byebye to the philosophy of old, but it opens new ways of exciting contemporary philosophy as well - and then I don’t mean logical positivism.
Observe what happens to the fruit of a tree, when you dig up the roots.