I happen to believe that graphing calculators are the greatest invention since, well, the scientific calculator. However, I noticed a disturbing trend at the AP seminar I attended this year in New Orleans. When looking at samples of actual students answers to the free response section, I noticed that not one of the students could sketch a graph--they all plotted eight to ten points and connected the dots. These were routine functions like y = (1-x)^0.5.
I think that the ability to analyze the behavior of functions is critical. How can you even use a graphing calculator if you don't have some idea of what to expect?