Is this technique still used in modern compositions? I have noticed it a few times in Xenogears music, I believe. Do any of you use it in your pieces that you create?

Nope, I find it's better if I modulate. Forgive me for saying this, but the picardy is too "easy" to use. Instead of a piece in C minor "suddenly" ending on a C major chord (the raised picardy third), I prefer to gradually modulate from C minor to C major, and it makes the ending more obvious, and gives it a nice twist, but one we can adjust to. It's just more "harder" to do, making it seem more sophisticated, rather than something you just throw in at the end . . . hope I didn't offend you, haha.

Yes people still use it.

A LOT of people still use it. But I do the same as Alphonse and modulate.

I have a question. Does the Picardy Third have to be raised to a major chord, or can it work backwards as well? I mean, go from major to minor on the last chord? I've heard pieces in this fashion, but is this the same technical device?

I don't think it would be the same device. The tierce de picardi was originally mandatory for all religious pieces based around a minor key. I guess you can't have your psalms leaving god all depressed.

Hmm, I've never thought of that before. Does it have a name? We can call it the Michael third, or the Yago third! ^_^

And elite, I didn't know that it was mandatory. Thanks for that extra tidbit!

The Yago third... umm... :sweatdrop:

Maybe it really has a name ( :: e-mailing my Music Theory professor :: ). But I guess since it's not as common as the Picardy Third, the name isn't well-known.