MobileMe will die someday. Just not anytime soon, since apple will keep MobileMe operational until June 30, 2012. But now that iCloud is here (and free), all MobileMe subscriptions from the last year, will be free until they expire.
According to GigaOm, if you recently bought the service, but have yet to activate it, or used it for fewer than 45 days, you're entitled to a refund. If your service recently expired, you won't be able to extend it. And presumably, once current subscribtions expire, they won't be eligible for renewal.
Furthermore, the Find My iPhone feature (once part of the MobileMe suite), now has added functionality in its iOS app, including some that make the phone non-dependent on MobileMe. First, if you cant find your phone because it's offline, Find My iPhone will send you an email informing you of its location the moment it goes back online. Secondly, if you want to remove a device from the list, you can do it all through the iOS app. Previously, you had to do it through the MobileMe site. [Apple and iTunes via GigaOm and TUAW]