In my experience, it's still extremely obvious. It's always the word that's less readable (and doesn't look like it came from a book). And if you have numbers, it's even easier.
Recently they added special captchas for untrusted users. If they think you might be a bot, you'll get much harder captchas.
http://googleonlinesecurity.blogspot.com/2013/10/recaptcha-j...