Gabel-
I'm with you on the hand tools...being more efficient than they appear. And they're a whole lot more fun (and healthy given dust and noise concerns).
As a side note, I remember reading a piece a few years back on the long-term effect from the vibrations of power tools on woodworkers. Seems they can have quite an effect on bones and joints. It wasn't the obvious vibration, like a jackhammer, it was the higer, almost ultrasonic vibrations routers and circular saws emit that's an issue.
I think the inefficientcy of power tools is a hidden one: the necessary set-up required...you know, getting out the cords at the begining (and returning them at the end) of the day; hauling out several individual power tools (then putting them away); the orginization of all the bits and blades, etc...
To me, power tools excel for repeat operations over many pieces of (identical) stock. Or heavy-duty chores, like large diameter drilling.
There's a certain zen practice about hauling out a simple box of tools, each of which can perform any number of tasks.
You need a big trailer for alot of power tools (inefficient), but a toolbox fits in the back of the truck quite eaisily. I think the framers of old would be a bit perplexed by ALL the tools a "carpenter" hauls w/ him today.
In my case, my early carpentry training found me on a steady diet of power tools. I discovered hand tools on my own after a few years. I guess it was their beauty, and somehow knowing they were the roots of it all that got my attention. Plus every "master" of the trade I ever read about or saw a photo of had hand tools all around them.
I'm not a purist, however. I'm putting up cedar shingles on my houseboat project (long story) and am using a pneumatic gun to attach them. But nothing beats the simplicity of slicing one of those shingles to width w/ a knife and then running my Lie-Nielsen over it for a smooth edge. Which happens so quiet and easy.