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I don't have strong feelings on the matter, but I see the wisdom of the "revisionist" camp (I think SheridanCat espouses this view) that PokerTracker is only a distraction for beginners.

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I might modify this a bit and say that PT isn't a distraction, but PAHUD (or similar heads up displays) might be. PAHUD can also be a crutch since you can see mucked cards and use the overlay to provide vpip/pfr/ag numbers. Too many see these numbers and think that they are the same as a 'read' on the player. They are not, but it could be easy to fall into that trap.