I was sorry to come across this post on the Law Librarian Blog about PreCydent going out of business. As I noted in 2008, the company had an impressive search engine with outstanding relevancy ranking compared to other tools. I imagine that the entrance of Google into legal research, and perhaps the onset of Westlaw and Lexis new search engines as profiled in the New York Times earlier this week, were contributing factors.
There's an awful lot of law out there, and more is coming out all the time. It's not easy to compete with the big boys.