I like the flight master system in World of Warcraft. You talk to a flight master at one location, you select your destination, and you're taken to that destination - not instantly, but in realtime. While in transit, you get to move the camera around to take in the surroundings and anything that might be happening in the game world. It helps with immersion, and it makes sense - while still offering the convenience of a shortcut that's faster than the normal mode of travel.
To me, fast travel systems where you select a spot on your map and get teleported there instantly - while convenient - take me out of the experience. There's no sense of urgency when you can get to the next scene of conflict with the press of a button.
If a movie consisted of just a collection of cuts in different locations, stringed together with no transitionary scenes inbetween, it'd feel really disjointed as well.
I get why people like to have the option, though. Not everyone has time for the tedious things. I find myself taking shortcuts more often as well nowadays.