http://www.webmasterworld.com/webmaster/4251667.htm

Posts at that forum are pointing to
http://www.allspammedup.com/2010/01/google-recaptcha-cracked/

etc.

Even Google Goggles can break it.
http://www.google.com/buzz/beaufort.francois/dPgaoWurbcm/Yesterday-I-encountered-a-casual-problem-in-my-web

Wow! My google goggle crashed on scanning a recaptcha :)

I love it! Could perhaps be a tad more polished, but it’s far better than what we use at the moment, nonetheless

Hmm, look at the views number of this thread, why 1200+?