getsat and tptacek have already answered your question, so I won't rehash that (pun wholly intended), but I should point out that one interesting property of PBKDF2 is that you
can increment the work factor (number of iterations).
PBKDF2(password, iterations=10) == PBKDF2(PBKDF2(password, iterations=5), iterations=5)
Thus you could, say, increase the number of iterations every month. All that said, you should still use bcrypt; this is just an interesting property IMO.