Not so much for me, but for many of the clients I advise. There are times when it does not pay to eliminate debt from a tax perspective. But this is rarely the case for the average American saver/investor. The debt burden needs to be looked at not just from the perspective of how it reflects on a balance sheet, but all the impact of behavioral finance. In my experience, investors make poor decisions during periods of great volatility when they are saddled with high debt levels. In fact often times, the lack of debt allows one to be even more aggressive in their investment strategy and makes up for the lack of leverage. But more importantly, it creates more disciplined savers and investors.
One simple strategy worth looking at...If you have a typical 30 year fixed mortgage, only one extra payment annually towards the principal will reduce your mortgage length by 7 years, and save you a fortune in interest payments.