Sparty, this is one of the rare occasions when I violently disagree with you.
Then we will have to agree to disagree.

My viewpoint comes from working with brand new divers for a good number of semesters now.
It's better for someone to be underweighted, especially during open water checkouts (hence the word "student"

) than it is for them to be overweighted,
as a general rule. I would much rather have to get out of the water to get some more weight, than to pick up a dead student off the bottom. Obviously there are exceptions to this rule and I listed a few.
Same with most divers -- I'd rather they be at the surface, complaining about missing out on a dive from being underweighted, or how their dive wasn't enjoyable (been there myself; never fun to have that feeling that you're slowly ascending and there's nothing you can do about it except kick down), or even possibly bent, than still down on the bottom because they couldn't get back up.
Most divers carry around way more weight than they need, many by 10-15lbs (or more). That's a lot of weight to swim up (and try to keep up while bobbing at the surface), especially if they panic and forget to drop a weight belt.
A lot of what I'm saying comes from wanting the opposite of most instructors and DM's -- they'll overweight people (again, sometimes by ridiculous amounts) to plant them on the bottom and perform skills and "make sure they stay down". Personally I feel this is exactly the opposite of what one would really want...I'd rather they have trouble
going down than
coming back up.
I suppose I should also mention that I strongly feel this way for students and for brand new divers. As one progresses through diving and learns to manage their buoyancy much better I don't honestly have an issue with being a tad overweighted (as long as it isn't ridiculous).