Shakespeare in love and New Historicism

If we were to continue to subscribe to the old-school mandates of the New Criticism, every fallacy regarding the genius, sophistication, and basic "deadness" of Will Shakespeare would continue to support our inevitable lackluster attitude toward his work. While it is a glossy Hollywood production, the film offers viewers the opportunity to regard Will S. and his subsequent works, through a more realistic lens. He was a man with flaws, desires, needs, joys, and sorrows. The New Historicism prompts us to assess the work and the man within the context of humanity - literary genius or plaigarist?; upstanding model of manhood or adulterer and womanizer?; a writer for the ages or a storyteller of his time? Looking beyond the film fluff to the theory itself, Will S. was a man, I believe, who wrote based upon the life and times around him, addressing the issues of humanity that are indeed timeless - love, life, death, communication, the frailities of the human psyche, the shortcomings of a society, etc. Thus his work appears to be "timeless".