Earlier quoted context omitted.
Individually salted passwords will store the salt right next to the password and hash in the database. Then, when the database gets downloaded (which is presumably what happened), then the attacker can buy one of those new fangled Radeon cards and unsalt the stored hash and try passwords at the rate of hundreds of millions per second. Salting will not measurably slow this process down. Salting prevents effective use…
But salting is also fundamental in bcrypt. Using an function with adjustable work factor doesn't mean salting is not a good idea. Any cryptologic hash people will mention as a best practice will generally have the notion of salting built-in.
Virtually no-one implements bcrypt themselves. If you use a bcrypt library, you don't need to think about salting. Therefore, when someone says "they're using individually salted passwords", you can usually count on the fact that they're using a crappy password hash, but that they think they're doing something cryptographically sophisticated.