I find it interesting that commenters are willing to write-off guided dives. I also prefer diving with just a buddy - however, if I was to rate my top-5 dives, only one of them was done without a DM. If I were as dogmatic as some of the posters I would have missed the Thistlegorm and Brothers Island in Red Sea, blue-water shark dives with Makos and Blues where the Atlantic and Indian Oceans meet, 9-mile Reef in Sodwana and most of the dives I have done in Mozambique. I also would not be able to do the Sardine Run later this year (where - OMG - not only is there a DM who guides you in the water, but there is also a guy in a microlight that spots where the 2000 strong pod of dolphins or the sardine bait-ball is from the air and guides your RIB to the spot).
In some of these dives the DM was irrelevant to my enjoyment and on one she was a positive danger, but as has been mentioned in other posts there are a number of places where either in terms of law or practicality you can only do guided (DM) dives. Sometimes this is due to the conditions and on other occassions this is done in order to protect the reefs and the underwater environment. There are too many awesome dives to be done where a DM is required and I, for one, think that being guided is a price worth paying for the privilege of accessing some of these sites.