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Recruiters and headhunters are in a vastly different position today than they were a few years back. In '99-'00, programmer labor was in such high demand that their commissions were through the roof, and anybody even remotely fitting the job description could get hired.
Today there are ten programmers for every open position (seriously, we just closed a programmer position here...214 resumes for one job), and the entire concept of needing a third party to "find" you a programmer is obsolete. This has led to a commission war with the headhunters and has hugely slashed their profit margins. They barely eke out a living and justify their continued existence by showing employers only the candidates that perfectly fit their needs. They advertise that they get rid of the "clutter".
If the other two resumes were clearly a better fit than yours, the client might have wondered why the headhunter had "wasted their time" with your resume had he presented it. Since headhunters (like programmers) are now cheap and desperate, his presenting resumes that didn't fit the job could have put his continued relationship with the employer at risk.
FYI, of the seven headhunters I worked with during the boom, only two are still in business today, and one of those sent out an email a week ago stating that they would be closing their doors by the end of the year unless there was an upturn in the economy.
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