Rapid Application Development is not a horrible idea. Of course, much like Communism, it is not a problem with the idea it is the implementation. When most companies get into a RAD style of work, the result more often than not is just flying by the seat of their pants. No project plans, minimal design documents… usually it is just a list of features and a deadline, or a dozen lists and a dozen deadlines, and the lists change daily.
Having worked for two years on one RAD project, and then two and half on another, I really would like to work on something with more structure, or at least be part of team that is doing RAD instead of people one guy trying to work on multiple phases on the same RAD project by myself. I go into one meeting about phase one in the morning, then in the afternoon I go to a meeting on phase two when I have to pretend that I am not aware that phase one is behind schedule… it really is quite maddening.