It can still be very good and sometimes make it even better. The fish just need a few days or maybe a week to get used to it. I have been there right after the flows went up and the fishing was poor. If you go soon you are sorta rolling the dice with what the flows may or may not do. Right now it seems to all depend on the Yampa.
Flaming Gorge Dam releases are currently at power plant capacity (~4,600 cfs). The Yampa River is forecasted to decrease to 12,000-13,000 cfs this weekend. Forecasted flows on the Elk River are uncertain, but more information will be available tomorrow. Flaming Gorge releases will be increased to bypass capacity (~8,600 cfs) over two days either Friday and Saturday, June 6-7 or Monday and Tuesday, June 9-10. Notification will be sent tomorrow with the final release schedule.
see the whole thing at http://www.usbr.gov/uc/water/crsp/cs/fgd.html
This is also pretty pertinent info for people pushing off on Lodore any time soon