From what I understand, when working up the H'el storyline, the original plan was to make him the new Bizarro, but editorial said the concepts were so different the name shouldnt carry over. So H'el is a new character and we have yet to see Bizarro, which is fine with me. It wont take long for one creative team or another to work up a flawed clone storyline, and Bizarro will be back.
I would actually like to see a Bizarro closer to the incarnation we saw in All Star Superman, you know, from the "Underverse" and is able to turn other people turn into Bizarro clones by touch. Although...now that I think about it, that sounds kinda similar to the Third Army in the Green Lantern books currently.