Comment 5 for bug 365779

This is indeed no bug. Readon the meager release notes from the latest bluez versions included in Ubuntu since Jaunty:
http://www.bluez.org/bluez-40/

"With this new major version a lot of things have been changed:
   - The main daemon is now called bluetoothd (instead of hcid)
   - The main configuration file is /etc/bluetooth/main.conf and follows INI-style syntax"

And indeed, scanning the sourcefiles reveal that the hcid.conf is no longer used but other configuration files instead. It appears to me that hcid.conf has become main.conf, except if you need specific bluetooth options support you need to defer to one of the specific config files, such as network.conf, input.conf and rfcomm.conf etc.

Too bad there is no documentation whatsoever on bluez 4.0. Also no comments in the source code.