Lead generation is one of the marketing models online that will always work. Why? We use the internet for research. We research rates, we research products, and we research information.
On the other hand, some say that Lead Generation is actually separating the wheat from the shaft. Companies that can perform and provide quality leads to their clients will be sought out by previous clients of companies that couldn't perform.
I think that Lead Generation is not going anywhere. It will however be under a magnifying glass when it comes to performance and conversion.