I am only answering with the bit of knowledge that I have, and it might include some personal opinions. For the most part, stories like these are still prevalent and can be taught in school to kids, but I don't think it holds the same type of reverence/weight as when he was alive. 
A lot of these stories are there to bring about a sense of national pride and a love for the country (爱国), but I've also been out of the Chinese education system for a long time so I'm not up to date.
If this comment is too political, feel free to delete it.