Unfortunately still true. Exchanging travellers cheques can be a royal pain in the preoverbial... Tokyo is not like London where you see FOREX places in every road - I can think of 2 or 3 in Tokyo only. Most big hotels will change them, but then you are paying hotel rates.
If you have too - try and get Yen travellers cheques. It is possible and much easier to change at this end. The easiest would be the post office - less queuing than the banks.
The money exchanges at Narita and TCAT offer pretty good rates I have found.
But the good news is that cards are much more common now -even some taxis will accept them! But don't expect to use them in convenience stores like I have seen in the UK. To save embarrasment when going into a restaurant and you can't see a card sign just ask them "cardo OK?" - just don't expect a positive response at the ramen stand
For buying train tickets cards are OK as well. But strangely for buying commuter passes cash will only do
For travelling around Tokyo on the trains I recommend you get a SUICA card - though it only works on JR. From this weekend there is a new service called PASMO that will work on buses, trains and subways - will find out more about it when I get mine this weekend (cash of course!). With SUICA you had to get a card and pay a 500yen deposit - this a card you can charge up but you don't get any discount. I believe PASMO will work the same but you do get some discounts.
The sakura is coming - should be nice next week