Anne Thomas Manes has obviously taken a decent course in headline writing with her recent post SOA is dead long live services where she says that SOA has been killed by the economic downturn, but that this is a good thing as it means we can concentrate on the services.
Reading between the lines of what Anne writes I think I'd say that her statement is that vendors are moving away from SOA as they've flogged you enough stuff and now they want to flog you its offspring: mashups, BPM, SaaS, Cloud Computing. Now in another headline writing award winner Andy Mulholland wrote Innovation is Dead, long live cost cutting which acts as a cautionary tale to those who are hearing vendors claiming that BPM/mashups/SaaS/Cloud will magically reduce costs and solve all ills. The reality is that it is in fact the services that matter more at this stage than at any other.
This doesn't mean that SOA is dead, it means that the marketing fury of T-SOA has moved on as their just aren't that many more ESBs and Web Service tools that you can be sold. What remains is in fact what SOA was all along its Services are the starting point for SOA its not those pretty technologies. I've argued before that Web 2.0 requires SOA so building on the Anne and Andy posts I'd say that simply put.
If you adopt the new technologies without having a services mentality then you will create a degree of mess that will make the one that consultants and vendors got fat on with EAI look like a trivial problem. Doing Spaghetti inside your firewall in big applications is one thing, doing it over the internet and with thousands of small ones is a completely different scale of problem.
So in a recession you need to Identify your services, understand the business value that they deliver, understand the cost model to deliver that value and then decide on the right technology approach.
If that isn't SOA then I don't know what is. So in reality its the "other" SOA that is dead, not the SOA of today.