I wholeheartedly agree with K&R.

A lot of the hard problems I've debugged have been the interaction of multiple state machines. In these cases I needed to see the forest of interactions rather than the trees of instructions. On top of that, I felt it was faster with getting more information up front (the entire log) rather than identifying what I need to look at, starting the program with debugger attached, setup break points, get more information, and repeat (yes, a lot of my problems required relaunching the process or even rebooting so I could start from a known good state, yay hardware drivers).