Is there a point in using Prelink anymore?
You can't read it until 23rd July 2009 unless you're subscribed to LWN.net, but you might find http://lwn.net/Articles/341244/ useful.
I wouldn't say that it should be arbitrarily discarded, however I would definitely say that it's use should be given a little more thought.
On a modern higher-end machine that is being frequently updated, prelink may not be a useful optimization. However, there are still a number of cases where it could be worth using. For example, on an older or lower end machine, or on machines that are fairly static and don't experience frequent changes or updates. It could also be worthwhile if you have a high rate of programs being run repeatedly (I can think of a couple of situations where you might have programs being run in rapid succession or in parallel where prelinking could improve performance).
All in all, you need to consider your specific situation, and then decide whether the benefits outweigh the additional work and effort.
I would say prelink is definitely useful on multi-user desktop servers such as LTSP servers used in schools and net cafes for example. Not only does prelink speed up application loading, but it also improves RAM utilization and disk thrashing due to contention between users, allowing many more simultaneous users on a server.