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What are these experts talking about, why they like to apply this? Read about the FF 3.0 location bar: http://wiki.mozilla.org/Firefox3/Location_Bar
polonus
Essentially it is a possible symptom of a possible (I know too many possibilities) problem and yes we should treat the disease.
It isn't the favicons that are dangerous, it is the subterfuge/phishing in getting you to a different site than you believe your on and that won't change just because there is no favicon to potentially mislead the user into thinking they are at the correct site or not. If there is a favicon, this can be faked just the same as the web page, remove the favicon and the web page still looks like the correct one.
However, these so called experts are also saying the favicon, somehow gives control over chrome and that is what is dangerous, well all I can say to that is fix it so that favicons/web sites don't have control without having to remove the favicons. Surely that shouldn't be beyond the collective whit of all those application programmers out there.
Favicons in the URL bar are dangerous, because they represent the website having some control over what's in the chrome. This danger is why we turned off website access to the status bar.
So basically I'm saying there is absolutely no benefit in not displaying the favicon as your average user will be no better equipped to decide if the site is bogus or not and we have survived this far with favicons with supposed control over chrome.
As RejZoR said the bookmarks would be indistinguishable with the icons not to mention bland and butt ugly, so you can add me to the list of leave it alone or allow user selection.