I was at Wal-Mart earlier, about to buy a bag of Howard Johnson
fertilizer, when I noticed that it had a "0" where the phosphorus number
used to be.

It also said something like "now more environmentally friendly, with
no phosphorus".

Now correct me if I'm wrong, but isn't phosphorus necessary for
flowering and fruit production?

I don't exactly apply this to my lawn - one bag lasted me 5 years the
last time, since I sparingly side dress my plants. However, I'm annoyed
that now the bag lacks one of what I consider the 3 most important parts
of a fertilizer.