To be fair, that post Nickki posted did say they had an email. Lots of people saying they didn't get an email doesn't mean they didn't send them, it could just mean that lots/most didn't see the email for whatever reason.
I can't blame photobucket for changing the policy as it must cost a fortune, but they did it a bit too suddenly (even if they did send out emails) and $399 a year does seem pretty steep.