I'm doing algorithm implementations at the moment. We're still building much of the very basic toolchain in a consistent manner because many of the important algorithms are originally only published as a proof of concept (if at all!) and every facility/enterprise implements their own version. Therefore, working with string algorithms and index data structures is still very big at the moment: implementation of high-performance algorithms. The next step, just started, will be the move to new computation platforms, such as GPGPUs and Cell processors. Fast sequencing of genomes is still one of the major cost factors. However, I expect this particular problem will be solved in a relatively short time (say, 5 years).
After that, much of the research (and therefore the work) will be focused on higher-level understanding. Virtually everything is needed here. There are so many different approaches to many of the problems that virtually any programming job will be needed. Some of the more interesting approaches will also require very good understanding of different fields in mathematics such as linear (and quadratic) optimization, semantic web, pattern recognition etc.
Database programming will of course remain important because of the sheer amount of data. The same is true for networking. Much of the basic work will also include web programming because the easiest and fastest way to access the data in an orderly fashion will be using web interfaces. Now comes a secret: All current bioinformatics web applications suck big time. If you're good in web programming, there are opportunities galore. Heck, the commercial marketing of bioinformatics web applications hasn't even begun. Most of these softwares are developed by researchers (not web professionals) for free.
Incidentally, the same is true for every single lab software that I have ever seen/used. If you don't like web programming and databases but like to do smart client application, pick a tool of your choice, make the UI better and sell it. I might be biased but I've never seen a surrounding with so many bad user interfaces and so much room for improvement.
Bad tools are one of the bottlenecks in today's research.
Is there more to the field than that?
You betcha.