Not seeing a lot of devaluation yet. Most of the other currencies are pegged or devaluing themselves. Also declines in interest rates are deflationary (read Antal Fekete's latest for example). The dollar will show strength for a lot longer than you expect.
No, not in the last few months we haven't. But, I guess I was referring to the last 5-8 years. The Dollar certainly has declined over this period and I think it's clearly due to the printing of money. This "shaking of the money tree" is only going to increase exponentially the next 4 years and the subsequent 5 years under the proposed Obama plan.
The only hope is that the Dollar decline will be relative to other major currencies - as this is a global recession and possibly depression. Things will be very bad from a monetary standpoint, but perhaps our relative position won't be quite as dire.