I have seen this posted on other blogs, and have also been waiting for this for some time. Microsoft have got a Hotfix out for SCOM to monitor devices using SNMP v1. The artical/hotfix isnt accessable on Microsoft Public site so you will ring up there support and request KB 989364 with the downloadable about 60Mb.
I am starting my testing on some old NT4 legacy servers as well as some ancient network devices that always seem to be lieing around in a big data centre.
NOTE: I have been told that the KB Article will be unavailable until some more testing have been performed. If you are looking for it, unfortunaly its not quite ready yet… but soon 
