Did you hear about the band ILLUSION ? It was sort of an attempt to bring the initial Renaissance line-up back together, with the lovely voice of Jane Relf. Now, to answer to your question, I think Dixie Dregs deserve to be compared to the Yardbirds in term of the diverse genres their members played in other various bands. The Dregs played mainly jazz-fusion, but their repertoire ranged from classical to rock, to bluegrass and jazz-rock. Apart from their performances in the Dixie Dregs, most of the members had a solo career or played in various bands.
Steve Morse played country guitar with Marcel Dadi, hard-rock with Deep Purple and Kansas, shredding with Jeff Watson, metal-prog-fusion with Jordan Rudess on 'Feeding the wheel'.
Andy West created recently a project called RAMA, which is a sort of metal-fusion.
Rod Morgenstein played in a hard-rock band, Winger, with Ty tabor and Derek Sherinian in a metal-prog band : Platypus, with Jordan Rudess for a metal-fusion duet, with T Lavitz in Jazz is Dead for jazz-rock versions of The Dead's greatest hits.
Mark O'Connor has released some bluegrass albums, and recently a fabulous album with the London Philharmonic Orchestra, Fanfare for the volunteer, dealing with classical music.