It’s exactly because of having more valuable things to do that you should have typing just be a subconscious act instead of having to take your eyes off the monitor all the time.
Plus, writing code is not the only kind of typing that I expect a developer to do. Even if I could accept that typing speed is not important for writing code, it's certainly important for writing documentation, good commit messages, communication with team mates and stakeholders, etc.
There is no way back. Relaxed posture, no UI elements stealing my focus unnoticed, parallelism (partially): continually "big-picturing" text; speaking with people while typing. The rhythm of this motoric skill and his quite specific form of memory alone, strangely decoupled from and coupled to the other mental processes at the same time, the interplay is simply marvelous.
I move my hands around as I type, too. I learned piano before typing, and it’s weird to me to try and keep them in one place. I type as fast as I’d ever want or need to, though, so I couldn’t care less if it’s not “proper”. I’d still say you and I both touch type.
In other words, the only thing I think about is what to write, not how I do it.