Google bombing is too much work to knock out a single competitor. It would almost always be easier to put that effort into other SEO tactics. I imagine this change has killed google bombs for the most part.

I agree with Solomon...I've always thought it was much better to put the time and effort into someone constructive rather then destructive...you typically get rewarded more...

What will the black hats do for fun, now that the Googlebomb is diffuse?

Aaron, I would chalk this up with the normal whining that happens when an algo gets updated. If they were ranked because they deserved it, they wouldn't drop out when the changes are put in place.

My suggestion, go write better content, or find better links!

I would think the algorithm has something to do with the fact that the keywords are nowhere to be found on the site.

Naw. I agree with Tim in that I don't think this has anything to do with penalizing a site altogether, but simply not allowing them to be ranked (googlbombed) for irrelevant keywords.

You're not going to be able to remove a site from the SERPs entirely. You're only going to be able to make it harder for them to rank for a term that they aren't trying to rank for anyway which is pretty futile.