I haven't tested your new tool yet.
It seems that p&h changed the BB-code long ago. (the post I noticed that is from 2008)
The images are still up, but the thumbnail don't work.
The image url has changed but redirects to the new url.
I can't show you the post, as the old BB-code was now manually updated. But here is an example:
Old BB-code:
[URL=http://image.pimpandhost.com/guest/879324_x.html][IMG]http://pimpandhost.com/media/simple/1/thumbs/da498bdb2dda_1.jpg[/IMG][/URL]
New BB-code:
[URL=http://pimpandhost.com/image/879324][IMG]http://ist1-3.filesor.com/media/image/1/_/_/_/1/d/a/4/9/thumbs%2Fda498bdb2dda_0.jpg[/IMG][/URL]
My question is: does your tool download the images with the old BB-code too?
IHG doesn't work on these.