Can anyone give me a scenario where they think busy cursors are justified? I feel like they're always a bad idea from a user's perspective. Clarification: by busy cursors, I mean when the user can no longer interact with the application, they can only move their hourglass mouse pointer around and whistle a tune.
I think you may well be right: in a decent asynchronous app, you never need to show a busy cursor. The user can always do something even if the big last operation is completing.
That said, sometimes Java apps like Netbeans or Eclipse, or even Visual Studio, hang with no busy cursor and no hope. But in that case, a busy cursor probably wouldn't help much either...but I think you're right: busy cursors are from a non-multithreading era for apps. In Flex apps, for instance, EVERYTHING is automatically event-driven callbacks, so setting a busy cursor would just be meaningless (though possible, of course).