It is currently running in modified form. The trams still take you through the costuming department first, then take a direct route to Catastrophe Canyon. Once you depart CC, you are brought back past the ride loading area where your tram will make a u-turn at the fountain where the Residential Street used to come out. Then the tram drops you off at the AFI exhibit.
They have moved some of the old movie props and items that used to populate the Boneyard. They are now on the side of the street both coming and going to CC. Because of space constraints, they had to put them in two areas.