Very strange. Photobucket is working absolutely fine to me. Here's the process I use:
1. Upload the picture to Photobucket.
2. View the picture in Photobucket it will look something like this:

(ignore the 'click to use Flash" message, I've configured Safari to only use it when explicitly ok'd by me)
3. Click the 'Direct' link on the right. The word 'copied' will then appear on a yellow background.
4. Now type the characters "[img]" in your post, and paste in the link you copied in step 3.
5. Now type the characters"[/img]" afterwards, and the image will appear in your post.
