In Latin America, the progressive processes that started with Chavez in Venezuela, and others mostly in the 00s are referred to as a "second independence". The idea is that even if Bolivar (and others) were able to get independence from foreign powers, that "freedom" was all but an illusion in real terms. Yes, countries had votes every four years or so, plenty of parties to choose from, separate institutions of the state, etc., but the actual power (in material terms, in terms of who controlled public opinion, who had access to education, health care, etc.) were in the hands of the few. The Bolivarian aspect of the venezuelan process is to try to get in place a government that puts the power back in the hands of the majority of the population.
On another note, a fundamental tenet of Bolivar's thought was the idea of unification. The governments of the region (both left and right even, starting with Chavez) have come to recognize that coming together as a group to find common positions, and ultimately to negotiate with the US or Europe as a block, is not only a desirable position, but a necessary one when there are such huge imbalances of power. There were attempts at unification before, but these were mostly commercial. The acknowledgment that unification should be on the basis of culture, common language, values, economic interests, common history, etc., starts with Chavez, Unasur, etc. and is probably closer to Bolivar's ideal.
EDIT: Some data, as requested in the comments, comparing some indicators in 98 (year Chavez came into power) to 2013 (year the original question was asked):
- The poverty headcount ratio (as % of population) at national poverty lines: in 98, 49%; in 2013, 29.4%.
Infant mortality rates (deaths per 1,000 live births):
1998, 19.9%; 2013, 14.9%
- Cepal has slightly different data for data (probably measured poverty in different terms?):
Poverty: 1999, 49.4%; 2013, 32.1%.
Extreme poverty: 1999, 21.7%; 2013, 9.8%
- % of population aged 15-19 who completed primary education:
2000, 89.2%; 2013, 95.7%.
- Support for democracy (% of people who agreed with statement "democracy is preferable to any other form of government")
1998, 60%; 2013, 87% (highest in all of lat am)
Satisfaction with democracy (% of people who reported being satisfied or very satisfied with the functioning of democracy in Venezuela)
1998, 35.45; 2013, 42.4%
How fair is wealth distribution (% of people who agreed with statement "wealth distribution is fair or very fair")
2013, 43% (second highest in lat am)