I voted 'it depends'. Here in Washington it is legal, and I do on occasion, but not in a traditional belt holster. I'll just wear my IWB holster with my shirt off or something along those lines, so it's still not that noticeable. I will OC every once in a while in a belt holster, but that's when I'm going to the range, or to a place I know is comfortable with guns.
I think this element of surprise that everyone speaks of is a good thing to have, but what would happen, in the off chance...You start fumbling for your CC pistol, but get hung up on your shirt or something along those lines? Then you lose all element of surprise and you become an instant threat to any would be attacker. I'm not saying that this would be a common happening, and with enough precautions taken, probably would never happen to a responsible CCer, but I sure wouldn't want to be the statistic in that situation.
So maybe I'll start trying to get more comfortable with OC since it is perfectly legal in my state. I also agree with an earlier made point that maybe once people start seeing guns in a more common/neutral environment, the fear of them will start going down. Only time will tell though. Either way, I think it should be the option of the individual whether or not they want to CC or OC.