FC will be around for a long time to come, but I can't imagine anyone starting with a blank slate for a storage environment would pick it over NFS or iscsi. We use FC mostly because we already have it, and its nice to have a dedicated storage network that doesn't get stomped on by some network nonsense. These issues don't seem to occur too much anymore, especially with the advent of cheap 10gpbs gear.
We have started to use NFS over 10gb for VMware, and its incredible. The speed is excellent, but the benefits of using NFS vs VMFS are pretty incredible as a start.
But we also are always several steps behind in the technology. We are only now installing 8gpbs switches (used) and cards (also used) in our production environment, and we will likely keep 4gpbs in the dev/staging/DR environment until 8gbps becomes as cheap as 4gpbs is now. 4gps is still fast enough, but we had to replace our prod switches, and it was cheap enough to upgrade.
We haven't purchased any new FC cards or switches in over 6 years, and we don't pay brocade, emulex or qlogic for support either. I don't see how they are going to make much money except from the banks/hospitals/megacorps that are so very entrenched in FC.