I think it should be legal, up to the person who wants to/doesn't want to bait. Personally I don't do it. As Double said, I wouldn't be as proud of a buck I shot over a pile of bait, but for some people in certain areas that's the most productive way of getting a mature animal.

EDIT - I should also add that I feel if you're going to legalize one form of baiting, you should legalize it all. Here in Washington it's legal to bait deer and elk, but illegal to bait bears. I find this to be a rather stupid restriction, but I can see where the game department is coming from. Deer and Elk won't generally attack you if you come across a bait pile where as a bear might. Either legalize it all or none.