I hardly think this is a "killed" list. If I've got my emails straight, the "soft limit" of 30 emails per month was implemented November 13th, 2009. Don't remember what happened in October... anyways. Declaring the list "dead" because the message count is dead is a major case of edit-count-itis.
Let's be honest, everyone knows that Foundation-l has a reputation and nicknames to go with it. Flame-l, hell-l, spam-l... to name some of the more polite ones. Myself, as someone who rarely writes anything to the list (This will make message 2? or 3? in the last 18 months) it was quite plain to see that the signal to noise ratio was.... ..was... how does one mathmatically represent 'useless'? From an average of 34 messages a day to an average of 7, I think the change is for the better.
Anyways, as with most mediums, there were a few extremely noisy people generating 90% of the mail volume. With the soft limit of 30 they must think twice about their messages. Not that they couldn't go over the limits. The mods said several times that the soft limit would just kick people into "auto-moderation" but if they had valid messages, they would still be approved.
I'm glad things are the way they are now, and I hope the mods continue their good work.
-Jon