Midnight in Paris: Nostalgia is Denial?

I don't agree with what Paul says in Midnight in Paris.  Granted, he is arguably the most annoying character in the film with his overwhelming expert-on-everything personality (which happens to be one of my most loathed character flaws).  Luckily the irritation leads to my laughter as I watch him stumble about with his bloviating and his nonsensical expertise.  But is there any credence to what he says?

Paul:  "Nostalgia is denial - denial of the painful present... the name for this denial is golden age thinking - the erroneous notion that a different time period is better than the one ones living in - it's a flaw in the romantic imagination of those people who find it difficult to cope with the present."

Nostalgia isn't acknowledgement of a painful present.  Nostalgia is the incorporation of the beauty of the past with the beauty of the present.  That's all.

Take my recent acquisition of a circa 1960's permanent press duster dress from Monnig's Fort Worth department store.  The once-favored department store is now a parking lot.  A parking lot certainly can't reflect the beauty of what was once three buildings crudely constructed with a brick facade to house thousands of American-made merchandise.  Avocado green, yellow gold, blue and pink fabric with the original Monnig's tags?  A 50-plus-year-old piece of merchandise that has made it this far without rips, tears, or stains deserves a little bit of applause. 

Even from Paul.  Who would hate it.  And would likely say it was some sort of fabric-based-material psychotherapy.