Yes, it was buried 30 May 2008, so I would say that is dead and buried.
Keep in mind, some people will have the information sink in so far before it gets thrown off with a new youtube video with that monkey/kitten/person doing something silly.
Using Lame 3.98.2, I presume?
I was re-encoding my whole library from source files into Lame 3.90.3 --alt-preset standard (alias -V 2), but it was a long needless process. For the time it took me to encode 700~800 files, I encoded 2,000 files with Nero AAC 1.3.3.0, so I begun the process of re-encoding from source files into the new lossy library until that one magical day when I have room for and own 4 x 1tb hard drives to run a Raid 1, or Raid 5.