personally I could do without it, I don't need it for entertainment, and it often disrupts the flow and continuity of a game; but that being said, I have no moral issues with it, and like bonoman said I'd rather see Tie Domi and Battlin' Bob Probert fighting it out then not see sneaky, dirty stick work going on, which would increase dramatically if there were no more fighting (unless you put 12 officials on the ice at once to see everything at all times), also there would be more cheap shots with guys making runs at players along the boards and in the corners, and shady knee-to-knee hitting would be on the rise (and those cause the real injuries, where guys routinely have their knees injured, and sometimes severely and/or permanently)
and if you notice, there is almost no fighting whatsoever in a playoff game, save for the occasional scuffle at the end of a blowout where one team is letting out its frustration