Not to mention that it took forever for the drive to "burn" the Lightscribe image on the disk. Took longer to do that then write the disk.
It doesn't take that long. Maybe about half an hour if you use highest quality which granted is a lot longer than waiting for a label to be printed but still not too long.
They're useful for commercial applications where you want your product (e.g. tender) to look professional, but yeah, agreed, a bit old school now.
Yes they are useful for things like that, for example when I put my aunt's wedding video onto a DVD for her I used LightScribe discs. She was really impressed by the result.
As for the latest drive manufactured, I honestly don't know the answer. I bought an HP dvd1140i DVD-RW drive in April 2010 which had support for LightScribe. That was probably one of the final drives to support it. I've still got that drive (and numerous LG ones) in older machines which I still use, but they're all IDE.
I did buy a SATA Samsung DVD-RW drive in December 2010 when I built my first rig that may have had support for LS but I can't remember and I no longer have the drive because it broke.