Of course there are people throwing their hands in the air saying "f**k this" - generally, these people fall into either of 2 categories;
1. they implemented "black-hat" techniques and were slapped by Penguin or Panda
2. they employed an SEO agency who implemented "black-hat" techniques and were slapped by Penguin or Panda
Either way; good riddance. It makes our lives (James and any other SEO) a little more safe and secure knowing that there's becoming less and less people who are going to dabble into black-hat methods, who then lose the race by getting penalised - and people like James and myself have to pick up the pieces.