snydeq writes "Sure 'legacy systems archaeologist' ranks as one of the 7 dirtiest jobs in IT, but COBOL skills might see a scant revival in the wake of California's high-profile pay-cut debacle. After all, as Fatal Exception's Neil McAllister points out, new code may in fact be more expensive than old code. According to an IDC survey, code complexity is on the rise. And it's not the applications that are growing more complex, but the technologies themselves. 'Multicore processing, SOA, and Web 2.0 all contribute to rising software development costs,' which include $5 million to $22 million spent on fixing defects per company per year. Do the math, and California's proposed $177 million nine-year modernization project cost will double, McAllister writes. Perhaps numbers like those won't deter modernization efforts, but the estimated 90,000 coders still versed in COBOL may find themselves in high demand teaching new dogs old tricks."