It is indeed true that Hydropel has been discontinued. A sad day for hikers and runners.
The company that owned it "Genesis Pharmaceutical, Inc." is now a subsidiary of Pierre Fabre Dermo-Cosmétique USA. Genesis Pharm has gone completely under. Even their website has been removed from the internet. Pierre Fabre Dermo-Cosmétique has given no indication that they will continue on most of the products that GenPharm created.
Body-glide just does not come close (at least for me) to what Hydropel was able to accomplish for hiking through the mud, muck, streams, rivers, and ponds that I hike through here in the Redwood forest of Northern California.
And yeah, I did make that comment above about Bonnies Balm. It was/is a lot more natural than this other stuff we use, but it just was not able to keep the water repelled anywhere near as much as Hydropel or even Body-glide. For me, it just turned into an expensive lip balm. YMMV
So having a little bit of fun with the above suggestions:
Desitin Maximum Strength Paste (pj with max OTC zinc oxide available)
Aquaphor Ointment (monkey butt help)
Wet Light (well, you know ;)
I have to say, the neorsporin suggestion... seemed odd. However, the mixture of polymyxin, bacitracin and neomycin actually help prevent the growth of bacteria, from what I can find, so that could actually be benificial - we all know how bacteria love your feet, eh.
I can just see a pct thru-hiker trying to get back into the USA with some of this concoction in his backpack... border patrol would be "uhh, and what *exactly* is this stuff" - giggle.