"the term still retains it's original meaning." or rather I should say 'equivalent terms' to the term 'witchcraft' yet retain their meaning.

In fact a quick look at the dictionary demonstrates that the neo-Pagan usage of the term has not fully supplanted traditional meanings of the word in popular usage as I supposed and that a number of older traditional meanings are still listed alongside the more contemporary "a believer in Wicca":

http://www.thefreedictionary.com/witch