I agree with Ridgewalker that this is the current king among insults. It has become ubiquitous without seeming overworn (my favorite place to see the term being used well is
www.hotchickswithdouchebags.com). It still seems funny in the way that a word like "poseur" was in the '80s or "wanker" in the '90s: both terms deflate the pretensions of the overly slick and overtly successful, usually men.