'Lend' me your AP stylebook ... oh, never mind

AP has now officially codified the distinction between lend and loan.

loan (n.), lend (v.) The preferred usage.

My question. Is AP a little late to this party? Is this really a distinction that anyone strictly observes anymore, or is it another of these "over/more than" cases where it's just not worth worrying about?

(Disclosure: I do mention it in my editing class because, as you see, it still crops up as an issue, and it is in the usage part of the textbook they use. I am compiling a long list of what I'll call "never minds" for posting here and in my column sometime soon. I'll be seeking feedback, but in the meantime, if you have any "never minds" you think I should consider, pop 'em in the comments.)