KrisB, I think one of the issues here is that you are worried about getting people to memorize a formula and then 'plug & chug' the answer. Otherwise known as "teaching to the test". This will immediately be forgotten as soon as the exam is over, leaving the student without any idea how to actually calculate their air consumption. While you might not find it "useful" for the first several dives, having students calculate their air consumption on all their dives is a useful tool to show them just how much things can change between dives based on task loading and stress.
Thal and others are more concerned about concepts. If the students in question understand a few basic concepts, they can derive how to calculate their air consumption on their own. You are complaining that it's "too hard" to teach this, yet we teach it to our students every semester with a minimal amount of trouble. In our case I wouldn't argue that all of our students remember everything we teach them -- you obviously get a small number of knuckleheads in each class, especially in the college courses. 9 out of 10 people in the class won't ever go diving again, so I certainly wouldn't expect them to remember it ("Use it or lose it"). But for those that continue diving, they seem to hold a firm grasp of the concepts that are taught.
By teaching concepts and knowing that the students are equipped to figure things out for themselves after class, the students are better prepared to plan dives based off of their air consumption as they get more comfortable in the water and they watch their air consumption drop.
In our program, we strive to equip students with the basic knowledge to go out and find the answers for themselves, rather than being dependent on an instructor. By keeping someone dependent and spoon-feeding them answers, you are only hindering their intellectual and personal growth, whereas, we are hoping that they will come out of our program equipped to help themselves. This applies to all facets of life, not just scuba.
And yes, the diatribe about falling standards in high school is, from what I have observed, completely valid. You wouldn't believe how many of our students are working towards engineering degrees, but "can't do math without a calculator".
(yes, I'm talking about basic scuba math)