I feel QC is one of the tool that correctly demonstrate how bad guy can able to make bucks. OTA API was the only little solace to deal with this "Great" application. ALM, no idea , if HP did something or just wake up in morning to rename all the tool ( except one that seems to have future - loadrunner).
Are you refering to ALM 11.5? ALM 11.0 has been out since 2010 and is pretty stable. v11.5 is the most recent offering, and it was not fully functional upon first release, but has been having service packs released to stabilize it.
(Opinions and information contained in this post are wholly my own and do not reflect the opinions of my employer.)