Has anyone ever bothered to ask Tony Hoare what he thinks on this topic? I know SPJ and him both work for MS Research, maybe he can get on that and settle this for us.
I would be curious to know the answer. Though, I should have added in my original post that I am far from the originator of this view. I see a sibling post elaborated. I think the crux is simply that without the "in place" nature, it loses a lot of its speed advantage. Cache localities and such.