On the "yea vision" side we have Steve Sjogren of Jump Start Church…

We all know that people perish without a clear vision.

The recent TV hit show, Lost, has had a group on it attempting to
escape the deadly island. In hopes of running across a shipping lane at
random, this bamboo raft has experienced lots of problems (bear in mind
I have caught only a few of the raft episodes, but the parallels
between the raft and vision are striking). The main difficulties with
the raft? No rudder and no sail. Other than that, it was a peachy raft
in every way.

I ask you, as you look at the church you either lead, are on the
staff of or are a member of – are you lacking a rudder (a clear,
God-given sense of direction your team is convinced is from God
himself) AND are you operating on sail power (is the wind of God’s
Spirit empowering you forward in your journey, or are you being tossed
about by forces that are randoming taking you to and fro in a
frustrating manner?)

Source and the pro argument: http://jumpstartchurch.com/2007/04/23/vision-projection/

On the "vision stinks" side we have David Hayward of NakedPastor.

I went to another Vineyard leaders meeting this last weekend. I love
the people. That’s the only reason I go, to be honest. I get so tired
of the ceaseless talk about vision, vision forming, vision casting,
vision keeping, blah blah blah. I am against vision. Call me an idiot!
I don’t care. I told everyone in my small group, after all the talk
about vision, that I personally resist vision with as much passion as
those who believe in it. I get the usual quote: “Without a vision, the people perish.”
I don’t believe it. Today, people perish with vision. Besides, the
original language of that passage (Proverbs 29: 18) doesn’t mean
“vision” as in a corporate long-term goal. It means “revelation”. In
other words, without hearing from God, the people perish. It is truth
we need. Not another vision, PLEASE!

Source and the rest of the vision is over rated argument: http://nakedpastor.com/archives/989

Check ‘em out and make up your own mind.