While this isn't directly a math issue, indirectly it is, since teaching cursive writing takes up time in the elementary grades, time that could be applied to math and reading.
I am torn. On one hand, I have used cursive writing so little in post school activities that my ability with it has greatly deteriorated. In fact, beyond my signature, which isn't even writing, I do not use it at all anymore. But I have never been a "note taker", preferring instead to focus all of my attention on the speaker. I did however find the LiveScribe pen, which records and syncs audio with your writing, very useful and would have employed it throughout college, notwithstanding the ethical and legal issues associated with its use.
I do question whether creative writers rely on cursive anymore, but don't journalists still rely on it? I can't imagine the serious "note takers" doing without it, although, I would think the serious note taker would learn shorthand instead. Do they still teach shorthand?
All in all, cursive writing is probably going the way of Latin.