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My policy is to leave things I use every day on 24/7. That's 3 of my computers out of 9. For things I don't use every day, if they go unused for 2-3 days, I turn them off.
It's mostly a matter of convenience. My power bill/usage is pretty low with this policy. I know computers aren't the #1 power sucker in many people's homes, but they are for me.
So anyway, I agree with charliex. The benefit of leaving a computer on all the time is questionable. Mostly because most people upgrade their computers within 5 years anyway. Normally the effect of flipping the power supply doesn't manifest itself within that time frame. On things like hard drives, CPU's, and the like, the risk is even lower.
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"There are finer fish in the sea than have ever been caught." -- Irish proverb
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