"Completely Automated Public Turing test to tell Computers and Humans Apart" (CAPTCHA) [1][2] are used e.g. to prevent bots from utilizing special web based services for spam and unwanted access. To circumvent this, botmasters take profit from human intelligence by paying people from developing countries for solving CAPTCHAs [3], in order to reach the target service.
Considering this, do you think that it is still reasonable to improve and use CAPTCHAs?
[1] U.S. Patent 6,195,698. Method for selectively restricting access to computer systems. Filed on Apr 13, 1998 and granted on Feb 27, 2001. Available at http://www.google.com/patents/US6195698 .
[2] Ahn, Luis von; Blum, Manuel; Hopper, Nicholas J.; Langford, John (2003). "CAPTCHA: Using Hard AI Problems for Security". Advances in Cryptology — EUROCRYPT 2003. Lecture Notes in Computer Science 2656. pp. 294–311.
[3] http://petmail.lothar.com/design.html#auto34