Eye,
I think all would agree that there is a time for power tools, and there is a time for hand tools.
It's what you happen to be cutting/doing at the time. Like Tim said, it's your choice. Time is usually a factor for contractors/framers. Those like Sobon (a purist) would do everything w/ hand tools. But he is not doing the craft day-in-day-out for the money, you know? He is resurecting an art form.
In my experience w/ woodworking, I find many process are just as fast by hand as they are via power (to an extent)...
Take cutting a mortise (w/ a router, vs. chisel): In power, you need to find an extention cord and set it up, get the proper bit installed, and then clamp a sraight-edge or some other jig in place, then begin.
All that takes more time than you might realise. You could likely be halfway done chopping w/ a mallet and chisel in the same time.
But alot depends on how many mortises, etc. you have to cut. Power is much faster when considering multiple operations, etc. (that time thing).
Today, most folks begin woodworking/carpentry via power tools, then get intriqued by the hand methods...where it all began. They each have their pros and cons... You screw up pretty fast w,/ power tools... zip, and you're off the line.
You can cut most any joint w/ just a few hand tools. Power tools lead to more power tools, as each is limited to what they can do... hand tools are wonderfully versatile.
I guess the long and the short of it is to embrace both... don't become an extremist to either camp. Follow your intuition and have fun.
