Excellent function!!
But as others have pointed out holidays will invariably need to be taken into account; we have a holiday table which (simplified version) is called HCD and has one field HolidayDate (DateTime). You simply need to add a simple select calc to the end of your functions thusly:
--Start with total number of days including weekends
(DATEDIFF(dd,@StartDate,@EndDate)+1)
--Subtact 2 days for each full weekend
-(DATEDIFF(wk,@StartDate,@EndDate)*2)
--If StartDate is a Sunday, Subtract 1
-(CASE WHEN DATENAME(dw,@StartDate) = 'Sunday'
THEN 1
ELSE 0
END)
--If EndDate is a Saturday, Subtract 1
-(CASE WHEN DATENAME(dw,@EndDate) = 'Saturday'
THEN 1
ELSE 0
END)
--New calc to account for Holidays added here
- (SELECT COUNT(*) FROM HCD
WHERE HolidayDate BETWEEN @StartDate AND @EndDate)
 
This should not detract from the original elegance of the solution as this is a simple select, not requiring cursors/loops