Yes, they are cutting back on the ZDDP in Deisel grade oils, same reason that they did it in passenger oil, mucks up the emissions system.
Personal opinion, too much is being made over the whole deal. From what I've seen, most of the cam failures point back to improper break in and/or incorrectly matched parts/faulty assembly. If you hav correctly matched parts (I'm talking stock to mild hop up, not full race parts) and follow the specs and assemble/break in procedure correctly, there shouldn't be any problem running SM grade oil. I can't speak for other brands, but I do know that Valvoline does their cam wear test using a flat tappet engine. Also, we put SM grade oil in flat tappet engines every day at the shop I work for, have yet to see an engine fail due to the oil. Maybe from lack of oil, but never from having current spec put in.
