"We've done a cool $50 million of R&D on the Apple Human Interface. We discovered, among other things, two pertinent facts: (1) Test subjects consistently report that keyboarding is faster than mousing. (2) The stopwatch consistently proves mousing is faster than keyboarding."
http://www.asktog.com/TOI/toi06KeyboardVMouse1.html
It's very easy on HN to find the pro-keyboard arguments. The pro-mouse argument is, more or less, that the context switch that really costs you time isn't the one involving the mouse, but the one involving remembering and/or finding the keyboard shortcut or function key.
Vim and Emacs style movement commands are faster than the mouse in certain contexts, but I'm dubious that's universally true. "I want to jump to line 123" is easy, but what about "I want to move the cursor to the open brace character right there"? No matter how much of a seasoned pro you may be, you're going to have to think for a moment about how to do to that: "let me count the '{' characters between the current point and where I want it to be. Three, so '3/{<cr>'." The mouse may make you move your hand, but it doesn't make you have to stop and count.
(It's also worth remembering that while mouse selection may not be as rich as "select within brackets" type commands, nearly all editors do have basic semantic mouse selection: double-click and drag to select by word, triple-click and drag to select by line. This can be a lot faster than you might think.)