There's yet another reason I don't use Bing, or any other website ran by Microsoft.
Microsoft does not understand the internet. It ruins every service it buys and 'integrates' into their Live-doodah. There's more colorful bling and shouty ads on every page than there's ads in the advertisements that get dumped in my irl mailbox. Their development frameworks (ASP.Net comes to mind) totally rape webpages, triple them in size, crap out on non-IE browsers, lose standard functionality and whatever else.
Sure, Microsoft must do something right at some point. But my experience with it is that it poisons everything it can get in touch with. In comparison Google, which I am sure is equally backhanded and messed up due to the $ involved, has not ruined nearly as much. Inbetween support of Firefox and later on the development of Chrome, their new mail variety, their search engine, text-based ads, I feel Google is getting far more crap than it truly deserves.
I hope they got some lawyers and legally admissable records of this honeypot affair so they can at least take care of the fact Microsoft is trying to spin this story into a slander-story with them as the underdog.

Bah, you ninjas, now I need to write an addendum. I think PageRank and all the other research Google is built on is a moot point. All companies are based on someone elses research to some extent: when was the last time you saw aviation companies credit Isaac Newton for his work on gravity laws, or Daniel Bernoulli for his famous principle? Google took research meant for one field, applied it to a totally different field and adjusted it as necessary, and out came PageRank. There's no simple carbon-copying going on at all: it has always been a matter of appliance while coming to a new 'bigger' product. In this particular case of results-copying, it is the same product, from a competing vendor, being selectively copied where useful. So cheating very much applies imo.