I hate to get into this debate but oh well, here I go...
I understand the benefits to the city behind both arguments but I have to come down on the side of the tall building fans. I'm not saying Vancouver should be filled with tall canyons blocking out all sunlight but I feel a few well placed, taller signature towers would add more aesthetic benefit than harm to the city and its surroundings.
Also, the current view cones seem a bit arbitrary and some are just downright ridiculous as they're tiny slivers that the majority of people will never even notice, let alone appreciate. There are still plenty of areas where the mountains are all too visible (i.e. every area of the city not immediately south of downtown). Personally, when I'm around the south shore of False Creek I realize I'd be just as happy to have a condo with a view of downtown as one with the mountains (especially if we had some sexy signature towers to look at).
Mountain views are great but if you're telling me we'd never see the mountains again with tall buildings downtown then you need to get out more, the mountains are inescapable here unless you're at Granville Island 24/7.
Nevermind, it seems mountains are even inescapable there as well...