Fascinating debate ladies, and as I've only just got my head out of examining GCSE RE papers, I'd like to contribute.
I am an RE teacher, and I believe it should be taught in schools, so that all students leave at KS4 with some degree of religious literacy. I approach the subject as an academic one. I am an agnostic, so I don't present any religion out of the big six as right or wrong. I try to examine points of similarity as well as differences.
I started teaching just as 9/11 happened, so spent much time that term trying to convince my students that Muslim students were just as upset and horrified by these events as they were.
I moved on to teach at a comp in Cornwall, where some students were evangelical Christians, or hardly ever went out of the county. If these students weren't being taught about different beliefs and cultures through RE, where were they going to learn this? The thought of these kids leaving school and going on to uni and getting into trouble because they hadn't been taught about other religions makes me shiver.
The timetable at my school allowed for 1 hour a week RE in KS3, and also at KS4 for the short course GCSE, so there was no 'bleed' as someone put it into other subjects. The syllabus had to be covered in that time. It did come in at KS3 history when we did Henry VIII and his divorce from Catherine of Aragon, but it is pretty damn difficult to teach that without mentioning the break with Rome and the establishment of the Church of England.
Besides the nuts and bolts of religious practice of the various religions and what they believe, I also taught some ethical issues at KS4 in line with the GCSE syllabus. These were mainly abortion, euthanasia, just war, genetic engineering, the environment, crime and punishment to name but a few. These were taught from the secular point of view (which is where many of the students start from) and then we looked at what the specific religions being studied said about them.
I do not see why so many people are wound up about the facts of religions being taught in schools. The job of the RE teacher is to educate, NOT indoctrinate...we TEACH, not PREACH, and yes, I am shouting as people do not listen to this. A good RE teacher does not proselytise, they present the facts, answer questions, and leave the students to make up their own minds about religion.
I teach RE and am going to do my MA in World Religions because I find it fascinating how religion has such an effect on peoples' lives and opinions. We all engage with religion whether we realise it or not...all those on here who have slated those who believe must have at least considered belief (or what the imaginary friend was like) in order to reject it.
For me the bottom line is that we live in a multicultural, religiously pluralistic society and to make that work, we need to be informed about the beliefs of others. RE does that.
I think that some of you need to go and sit in on an RE lesson to see what is taught these days, you might change your mind, or at least engage with the teachers about what they're teaching. Closed minds lead to intolerance on all sides and we have ample evidence from last century and this one, where that takes us.