I don't particularly see anything wrong with using a grapher. I'm a senior in high school and my school gave me a TI-89 for the year. I like the ability to scrollback and stuff. That's pretty handy. As far as needing one, well no.
I'd say, if you have one, use it, unless you're more efficient on something else.
Oh, there's certainly nothing wrong with it. I've just never found them useful. I've never been confronted with a problem where I though "a graphing calculator would make this easier". Obviously, different people work differently - I
love RPN, for example, but most people find it a huge pain in the ass, and that's OK.
What needs to be done is putting some of those "graphing calculator" features (CAS, scrollback, etc) into a nice, compact sci calc. Lord knows powerful microcontrollers are cheap enough today, there's no reason my $50 scientific shouldn't be able to solve the hell out of an ODE or whatever.