Dave has hit upon the solution to the calculator debate -change the nature of the questions we ask our students to solve. If we continue to ask the same kind of questions post calculator as pre calculator, then reservations regarding calculator useage are appropriate. Instead we need to take advantage of the technology to challenge our students to think about the meaning behind the process.
"Have them solve -2x = 4; -2x < 4; -2x < -4; x*y > 0. Show them concrete reasons for why they should know. "Take the calculators out of their hands" via good problems."
"So, ask them to discuss the following sentence: "The product of the reciprocals of a and b equals the reciprocal of the product.""