To the people saying cursive is faster: it isn't.
http://www.jstor.org/discover/10.2307/996624?uid=3739960&uid=2&uid=4&uid=3739256&sid=21101286207793/
There are other studies out there, but they generally end up the same. The fastest, most legible hand writing is a combination of cursive joining at certain points with mostly print style letters. Neither printing nor cursive is inherently faster than the other in its pure form.
Also in terms of recognizing script vs cursive:
http://lianza.org/files/cursivevsprint.pdf
A study that tried to show that the type of writing we are accustomed to will be recognized faster but it turned out that print was more quickly recognized than script in all cases. There are, of course, some warnings in the discussion about reading too much into a correlational study and some of the limitations but, again, if you want to search you will find largely the same results with other studies.
Granted, there are benefits to teaching cursive writing, especially in developmental stages of childhood. But in terms of value as a communication medium, it really doesn't have much leg to stand on.
I personally think that the time spent teaching children an alternative writing form, since they teach print first regardless (here in the US, anyway), would be better spent teaching other languages, something the US does a piss poor job of.