B&A had a great article on its use, even though no one actually has the disks anymore.
But is there a better icon, one without the baggage?
Yes...Absolutely a right time to stop using the floppy icons. The new generation doesn't know the floppy disc. I showed a floppy to my children and questioned them, 'What is this?'. they responded saying me that it is a 'Save' icon.
As with so many things, it's the wrong question.
We shouldn't have a save icon at all.
Or perhaps we should rethink save, i.e. auto save runs along to protect us, but one hits save in order to make a milestone mark, to return to or to compare.
I guess it will take time to be more familiar in new save icon since, most people are familiar in floppy disk icon as save.