I wouldn't say that Compiz is dead. However, the plugin containing the extra animations (such as burn and explode) are now a transitional dummy package as of Ubuntu 12.10. I don't know if it's just temporarily unsupported or permanently discontinued. Just wiped my HDD and reinstalled Windows 7 and Linux Mint 13 Cinnamon, and I'm lovin' it!
I've actually got Compiz effects to work on a netbook (Asus EeePC 1000HD). Desktop cube and animations worked, only using about 20% of the CPU, but the 3d rendering was off a bit.
On a side note, I've noticed that MS seems to follow a pattern with their releases.
2000 - good
Me - sucks
XP - good
Vista - sucks
7 - good
8 - sucks