Personally, I've always found IS a bit overrated.
Well, IS is certainly NOT "magic" - but have taken some hand-held shots that would not have turned out nearly as well without it. Thinking specifically of some LONG zoom shots - a tripod is not always immediately at hand - as well as moving camera operator (from car; on boat...).
You can also lock the IS into Pan Mode, which tries only to control vertical, but not horizontal, movement. Limited applicability perhaps, but useful when you do need it.
And with a "super zoom" / "advanced digital" you are stuck with the supplied lens - can't swap it out for another as with a SLR.
But you can always shut the IS off if you wish.
