"I’m wondering, was its advice correct at the time, is it still relevant, and do I still believe that metrics are a must for any successful software development effort? My answers are no, no, and no."
[...]
"Consistency and predictability are still desirable, but they haven’t ever been the most important things. For the past 40 years, for example, we’ve tortured ourselves over our inability to finish a software project on time and on budget. But as I hinted earlier, this never should have been the supreme goal. The more important goal is transformation, creating software that changes the world or that transforms a company or how it does business."
Source: http://www2.computer.org/cms/Computer.org/ComputingNow/homepage/2009/0709/rW_SO_Viewpoints.pdf