The burden has shifted from the bio to the informatics. We need to be able to sort through this much data without needing access to university-scale computer facilities.
Agreed. At EuPathDB, we're trying to provide just that for the genomic data of parasites that cause diseases like sleeping sickness and malaria. And we're hiring! See http://jobs.eupathdb.org/
I think it's important to give clear examples here - research questions that biologists have posed but are struggling to answer with existing software tools. They certainly exist, but I think some overestimate the bottleneck. For example, I would argue that the bioinformatics challenges at Ion Torrent are less important than, say, chemistry that creates longer reads :)