Norman,
Poetry has always gone thru cycles, generally extending from 75 to 120 years.
I used to divide such into Romantic/Classical and Metaphysical but lately have come to think of them as being more "Intellectually Biased" vs "Emotionally Biased"
The previous "Emotional", ("Romantic") cycle began in the late 18th, early 19th Century and lasted until Yeats, Eliot and Frost, each in their own way, began a transitional period that blended the emotional and intellectual elements, and resulted, at least in my opinion, in their representing the pinnacle of English Lanquage Poetry.
Those who followed them, partly in reaction to the excesses of the late Romantics such as Swinburne, but partly, as well, recognizing that they could not match the craftsmanship or depth of meaning that those 3 produced, chose to concentrate on the intellectual elements of their work, (Yeats' "Symbolism", Eliot's "Allusions", and Frost's "Extended Metaphors") and began the new cycle which I usually term as "Experiential Imagism" that was based on personal, as opposed to universal experience, and which is generally otherwise known as "Modernism", and is likely to be around in one form or another for 20 - 50 Years before the cycle changes again.
"Formalists", despite their use of traditional forms, remain, in my opinion, essentially "Modernists" in their philosophies and approach, and have more in common with them than with "Traditionalists" such as those of previous eras, (or myself, as i strive to emulate Yeats, Eliot, and Frost in attempting to blend the elements).
Hope this clarifies things a little.
Jim Hoye, (JRH)