Zoledronate and BMS-275291 in Treating Patients With Prostate Cancer

Inclusion Criteria: * Histologically or cytologically confirmed (adeno)carcinoma of the prostate refractory to hormone therapy * Metastatic bone disease, as documented by bone scan and confirmed by x-rays, CT scan or MRI scan * Note: Patients may also have measurable disease in the lymph nodes (retroperitoneal, pelvic or inguinal only), prostate and /or prostatic bed; measurable disease is defined as lesions that can be accurately measured in at least one dimension (longest diameter to be recorded) as \>= 20 mm =\< 21 days prior to registration * PSA progression defined as two consecutive increases in PSA value over the previous reference value; the first increase of PSA should occur no earlier than one (1) week after the reference measurement; all patients need to demonstrate continued PSA elevation with an increasing PSA four weeks after the required cessation of their antiandrogen treatment; the required cessation period is 4 weeks for flutamide, nilutamide, and Megace-based treatment, and 8 weeks for bicalutamide-based treatment * One of the following: * Continuing primary androgen suppression (LHRH agonist) * Orchiectomy * WBC \>= 2000/mm\^3 * Absolute neutrophil count (ANC) \>= 1500/mm\^3 * PLT \>= 100,000/mm\^3 * Hgb \>= 9.0 g/dL * Total bilirubin =\< institutional upper normal limits (UNL) * AST =\< 1.5 x UNL * Serum creatinine =\< 1.5 x UNL * PSA \>= 5 ng/mL * Serum testosterone \< 50 ng/dL =\< 3 months prior to registration * Estimated life expectancy of \>= 6 months * ECOG Performance Status (PS) 0, 1, or 2 * Capable of understanding the investigational nature, potential risks and benefits of the study and able to provide valid informed consent * If sexually active, willing to use an accepted and effective method of contraception consistently for the duration of study participation Exclusion Criteria: * Any of the following: * \> 2 prior chemotherapy regimen * \> 2 non-hormonal treatments for metastatic disease (including biologics, gene therapy, angiogenesis inhibitors, etc., but excluding external radiotherapy) * Prior therapy with a matrix metalloproteinase inhibitor (MMPI) * Immunotherapy =\< 4 weeks prior to study entry * Biologic therapy =\< 4 weeks prior to study entry * Radiation therapy =\< 4 weeks prior to study entry * Concomitant hormonal treatment (except LHRH) * Prior use of systemic radiopharmaceuticals such as samarium and strontium * PC-Spes =\< 4 weeks prior to study entry * Failure to fully recover from adverse effects of prior therapies regardless of interval since last treatment * Other concurrent chemotherapy, immunotherapy, or radiotherapy directed at the cancer * Other therapy or supportive care that is considered investigational * Known CNS metastases * Known visceral metastases (pulmonary, liver, kidney, splenic lesions); patients with retroperitoneal, pelvic or inguinal lymph node metastases and/or disease in the prostate (or prostatic bed) will not be excluded * Uncontrolled intercurrent illness including, but not limited to: * Ongoing or active infection * Symptomatic congestive heart failure * Unstable angina pectoris, cardiac arrhythmia * Psychiatric illness/social situations that would limit compliance with study requirements * HIV-positive patients receiving combination anti-retroviral therapy * Prior malignancy except for adequately treated basal cell or squamous cell skin cancer, adequately treated noninvasive carcinomas, or other cancer from which the patient has been disease free for \>= 5 years