Take a read of Ethan Marcottes responsive web design, great book. Responsive layouts are what its about these days not re directs to mobile version sites.
Do you have any case studies, with supporting KPI data, that we can look at to back up your sweeping statement?
I'm all for responsive design - it's a good baseline for cross-platform development if the client is willing to pay that bit extra for the extra time it takes - and I'm well versed in the rhetoric of the likes of Marcotte, Zeldman and Clarke.
A responsive website should respond with more than just its layout, however. Intent of visitors is likely to differ between different devices, and content (as well as layout and style) should respond to their needs accordingly - this is marketing 101 stuff.
Hopefully we're all separating out our content, style and behaviour nowadays. 'Responsive design' techniques advocated by Marcotte
et al only effectively tackle the style aspect. Marcotte effectively suggests building for mobile first and then layering extra content on top using JS - this would be unacceptable for many projects I'm involved with for all sorts of reasons (page load/execution times, SEO, JS-disabled etc).
So, consideration of what approach to take should come on a project-by-project basis. For most small-medium 'brochure' sites RWD is a good approach; for anything bigger, for which you've identified different levels of intent between different types of device users in your market research, a different approach may be more sensible - it could be the difference of £millions for a medium e-commerce site, so either approach would need rigorous testing. Sheepishly following the industry celebrities in their latest crusade will only get you so far - it's great that they've raised the profile of RWD, but it's currently far from perfect.
P.S. - as no-one else has said it yet, welcome to DDN :-)