Conventional wisdom says that developers won't return to Twitter unless they assure us that they won't pull another "fast one." I know I felt that way for a long time, felt it deeper than most, because I walked away from a large set of apps running on the Twitter API when they revoked our passports.
Look, it wasn't nice, what they did. But it's always a risk when developing on a corporate platform. Sooner or later, they will pull the rug out from under you. So it happened. Move on, lick your wounds, and pocket the experience, and let it guide you in future decisions.
Don't believe the promises of large companies or venture capitalists. If they say they love you, thank them, and act as if they're lying.
However, I don't think Twitter has to do anything evil now.
Circumstances dictate that unless they're run by sadists, Twitter is not going to do it again. And if they do, it's possible to build a multi-leg strategy, so that if they do, it doesn't hurt so much.
I've been developing with the Twitter API since April. I have a great Node.js app that connects my browser apps to their API. I could put another back-end behind that app, probably in a matter of weeks. So if Twitter screws up, well, it'll be a hiccup, but it won't be a fatal hiccup.
And today, their servers run reliably and fast. They are a public company, so they have a different set of issues than they had when they shut off the APIs. I've been doing what I please with their API and they haven't said a word.
Now, that said -- unlike Facebook, they haven't taken an interest in what I'm doing. Not sure what to make of that. I would prefer to work with them on features that will make our nascent writer's network work well with their platform. That's why I keep asking, publicly, that they ease the 140-char limit. But I'm also a believer in "If it ain't broke don't fix it." So I leave them alone as long as they're leaving me alone.