The reports of Freud's death have been greatly exaggerated

For years, academic psychologists have proclaimed that Freud is dead, but recently, new findings have come to light that undermine the conventional wisdom about his legacy. For example, Mark Solms has presented evidence that supports a number of Freud's ideas, including his assumption that dreams are not meaningless psychic phenomena, but motivated, wishful states. Additionally, Jonathan Shedler published a study in American Psychologist last year that showed that Freudian therapeutic treatments are just as effective as newer, so-called "evidence-based" approaches to psychotherapy.

Here is a link to an article by Mark Solms: 
http://mysite.verizon.net/res0im1v/donettesteelepsychology/id19.html

Here is a link to the APA page that describes Shedler's study:
http://www.apa.org/news/press/releases/2010/01/psychodynamic-therapy.aspx