New American Cursive, an example
Everything in this article should scare you into writing more legibly! Seriously, though, it makes a lot of good points. From a Humanities perspective, maintaining a link to careful, practiced learning techniques can't hurt anyone.
I learned cursive but I use it very sparingly--if at all. I adopted basic printing as part of my demented effort to learn how to letter for comic strips and I haven't gone back to anything resembling cursive.
It's a skill that I still have, but it remains a situational thing. If I'm writing a check, I slip into it without effort. If I'm attempting a more formal note, I'll use it.
Should kids learn it? Absolutely. I think it would improve their overall handwriting, and, no matter what people tell you, handwriting will never go away.