Not a heavy Photobucket user. Have a few threads locked on a few forums in the 'top subjects' sections that are full of Photobucket pictures. I guess those threads are hosed now.
I understand their business decision. IMHO, it would have been much better if they grandfathered in existing content and made the change relevant to new uploads. That would have kept them from breaking tons on existing legacy Internet content.
Fail, for being bad stewards of Internet content.