If you're still using Google Code for any projects I'd really recommend moving it to another service at this point unless you have a compelling reason to stay. There's some good evidence at this point that's leading me to believe Google Code is next on the chopping block for dead Google services.
He wasn't saying google code was bad, just that it's likely the next service to be cut by our friends over at Google. Given that v8's moving, this is pretty reasonable prediction.
Google code also makes it really hard to subscribe to projects mailing lists with a non-gmail e-mail. It is possible, you just have to know how to construct the subscribe message or get the maintainer to invite you.