Too Many Stored Procedures

Is there such a thing as Too Many Stored Procedures?
Jeff Atwood at Coding Horror makes some great points that reflect my own thoughts over at:
http://www.codinghorror.com/blog/archives/000117.html

I think SQL Server's Object Explorer needs to have a built-in mechanism for managing the thousands of stored procedures that occupy a database, instead of trusting that a sensible naming convention will be used.  In my experience, eventually any naming convention breaks down after time, as new developers and technologies arrive.

Linked to in Atwood's post is this by Frans Bouma, who seems to be the main promoter of cautionary use of Stored Procedures: http://weblogs.asp.net/fbouma/archive/2003/11/18/38178.aspx