Thanks Tim for an interesting article. I have not used computed columns with functions in, and I would be vary wary about the limitation on changing functions used by computed columns. Is there a some form of schema_binding setting you can use to turn this off?
The only major use I make of computed columns is in temporary tables when I am compiling report data. Even then, you are limited because you can't reference one computed column from another computed column, so every calculation has to be performed from scratch using the 'real' columns.
If it ain't broke, don't fix it...