What do we mean when we say it today?
Lucky for us, this phrase means exactly the same thing today as it did in ol' Shakey's time. Plus, most of us don't go around town saying "ado" all the time, so we know we're quoting Shakespeare when we say this one. We're also betting the majority of people aren't (intentionally) using Elizabethan euphemisms when they say this.
Next time you hear someone say this phrase, you'll probably think much ado has been made over it.