I teach and I take my children out of school term time (my terms are slightly different to my children's). I do not see a problem in it at all.
I do not think it teaches children to play truant. I think children tend to have the intelligence to understand the difference between a special event, and not being arsed to go to school. Or at least, my 6 year old has the intelligence to understand this distinction. Which is why she has had time off for holidays (five days per school year) and has never yet had a single day off sick.
Equally, if the children take their time off at sensible times, and I do think that there should be times when parents should not be allowed to take time off, like at the start of the school year in Sept for example. But that aside, actually it doesn't do them any harm or cause me as their teacher a lot of hassle. Maybe this is because I teach 'A' level, that actually if they come to me before they go away, it takes 5 minutes maximum for me to give them the material and tell them to come back up to date. I do not tolerate students who miss lessons and then expect me to spend time in class recapping what they've missed - although in fairness, it is usually the skivers who do this, and not those who have taken annual leave.
We also live in an area where we are allowed to apply for up to 10 days, but that includes sickness. We apply, get permission to go every year, and then take the holiday.
I don't think it is a big deal and I don't think it lessens my commitment to education. Life is complex, and not black and white. It is too naive to simply see this issue as a dichotomy between valuing education or holidays.