I voted "not really" but it depends mostly on your (1) cum GPA, (2) LSAT and to a lesser extent (3) how badly you bombed. If "bombed" was a 2.9 and you got a 4.0 every other year then that's not too bad. But if you "bombed" with a 2.0 and got a 3.7 every other year then yeah. That's bad. B/c your CUM would look like a 3.275. That's unforgivable no matter how you got there. Although a strong upward trend would probably actually help you compared to OTHER PEOPLE w/ similar CUM GPAs.
I'm kind of in the same position as you. 2.9, 3.2, 3.8, 3.9 are my GPAs per year so far. Obviously a very strong upward trend.