It certainly has happened in the Twin Cities. From what I'm told, about 75% of the varsity basketball was three-person last season. This season, only about 15-20% of it is (and maybe less then that).
I've talked to a few of the higher-ups and more experienced officials in my association, and they seem to think that we'll go back to three-person in a few years after "the schools realize that they'll have a better game with three-person".
Personally, I'm not convinced that three-person will make much of a comeback in the near future, but I'd be happy to be wrong with that bit of intuition.
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