Has "fail" become a noun in your area?
The nouning of "fail".
There's also the modern phrase "epic fail". I guess "fail" is a noun here.
I think "epic fail" is more of a specialized term used by video game players and people of that generation. For the most part, though, isn't the word "failure" still acceptable (i.e. epic failure)?
@Kitsch: Yes, "(epic) fail" and "(epic) win" are used in distinctive ways in netspeak and gamerspeak. For example, you can use "Fail!" as an interjection to announce a fail.