In case you don't remember, there was this handy program that would display the lyrics of the currently-playing track, and if it didn't have any, would do some searches.
Then, the author got a C+D from Warner and panicked.
Then, in a marketing coup, Warner sent and "apology" for the "tone" of their letter -- but, notably, never told him that he could continue distributing his program. So they got a lot of credulous good press from the bloggoweenies, and still got what they wanted: fewer people having easy access to lyrics.
(Yeah, I'm looking at you, Boing Boing: they didn't change their behavior one whit, and you passed along their insincere press-release apology anyway without ever noting the nakedness of that emperor.)
My copy of PearLyrics seems not to work so well any more, presumably because whatever hardcoded searches are built in to it have gone somewhat stale. Source was never made available, and the author hasn't stopped hiding under his rock.
Is there anything better?
(Yes, I know there are rumors of Apple building this into the iTunes store, but those rumors are two years old, so I'm not holding my breath. Also the current Yahoo offering is worse than useless, which does not bode well for that in any case.)
Update, 2013: I wrote my own.