agree...to a point. the problem is folks take nested IF's too far. Your example is still readable, but add a few more conditions and it becomes a headache. If people get more comfortable with not using IF statements for the easy problems, they don't get trapped using them on the harder cases.

check out this blog, really good read on this: http://www.excelhero.com/blog/2010/01/i-heart-if.html