I last renewed my PortPass (definitely called that - I'm looking at the card now) about 18 months ago. So it is definitely still working post 9/11, and I last used it in June 05, so is current (although the scanner was broken at JFK on this occasion... so I just went up to any US citizen lane counter and presented my card with passport. The Officer was happy to process me.
The card is labelled a PortPass, but the system (including the scanners etc) is called INSpass, because the INS issues the Port Pass.
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15 October update. I tried to renew my Portpass at JFK yesterday, and was advised the system at JFK was closed and could not be renewed at this airport. The customs officer didn't know if this was universal or just at Kennedy. I tried to call the 1-800 number for advice re this, but the recorded voice advised a 40 minute queue - I had a plane to catch so couldn't wait. I did check the Homeland Security website at
http://uscis.gov/graphics/formsfee/forms/i-823.htm and they are still publishing the I-823 Application Form... so go figure! So no luck this week, but next time I'm at a different airport I'll try again, since there is clearly no coherence at the moment.