Maybe he was a threat, maybe he wasn't. He probably was still a threat, but not a very big one. From what I've heard on the radio, it sounds as though he wasn't in contact with his network of terrorists, rebels, or what ever you care to call them. There will probably be an increase in attacks against the troops in Iraq, because the terrorists, rebels, ect, will want to try and show that they are still able to fight, and to give the impresion that Sadam hasn't been caught.
Plus, we have created a political vacume in Iraq. Some people probably respect and acknowlage the new Iraq goverment, but not every one will. Now with Sadam and his sons gone, there will be a polical vacume untill more people reconize the new goverment.
Just my thoughts, but only time will tell how this all pans out.