Cursive…or Not?

Does anyone teach cursive anymore?  We always have in the third grade curriculum in our district, and I guess I just thought it was continued through the years just as review.  Evidently not!  I don't feel like I have enough time to devote to it, but I wish I could spend as much time as my third grade teacher did.  She was so patient and methodical with cursive.  I LOVED watching her write it on the board.  There was something very calming and developmental about producing cursive when I was 8 or 9.  I just think it's important.  Unfortunately, I am as busy as the rest of the teachers in America, and I'm afraid it's slipping away, like a lost art. 

I recently heard that kids had to write in cursive on the SAT.  That gave me a little hope that if someone put it on a test, then it would become important once again.  That seems to be where all important things exist…on a test (no bitterness detected, right?!)

Here is what I found out:

Evidently, you just have to write a statement to ensure it is your writing on the test and that you have not cheated.
(exerpt taken from http://www.examiner.com/article/cursive-now-required-on-the-psat-and-sat)

So, my question is this: 

Should cursive be taught to elementary age kids, or should we skip it and focus on core subjects?  I'm very interested in your comments and opinions!