I use P,S,A,M depending on the situation. I dont profess to be anything near pro level, so i can't adjust some things as quickly as the camera can. If I know I need control of something (aperture, exposure, shutter, etc.) as the priority to get that shot I will go to the program that allows me to control that and sorts out the rest.
There are certain situations, sports for example, where fumbling around trying to sort out what settings you need can mean you miss the SHOT you wanted. That should NEVER happen, a DSLR is not for fumbling around with settings while you miss your shooting opportunities.
Shoot what works best for you and you are most comfortable with.
And remember, while there are auto modes and semi auto modes that had exposure, metering, shutter speed, aperture, white balance, lighting, and other details....there still is no AUTO COMPOSE mode. That's still up to you. I believe if you spend more time learning to compose pictures properly rather than how to be a pro at shooting in full manual you will get better photos. You can have all your settings bang on, but if you composed your shot like $hit....it will still look like $hit.