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Will the popularity of signature links die anytime soon? What will replace it?
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You can do forum signature back link on good rank based forum or website. These forum signatures will give you huge traffic and will play an important role for the website rank. Good forum and website stay for long time.
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I don't think the popularity of signature links will die anytime soon. These days webmasters are interested in operating forums more than the blogs. Blogs are demanding because you need to build contents, optimizer contents and bring traffic. On forums you don't have to build contents, if you bring members they will build contents. Therefore we will see a surge of forums and signature links getting more popular.
As long as forums and blogs are alive and kicking, I don’t think signature links will have no value anymore. I have read in many discussions that when you post a comment on a popular blog, your signature has a high probability of being seen by the readers of that blog. And if your comment is interesting then the reader will click on your signature link and you get extra traffic. .