I have seen posts on the web debating about ONLY in favor of automated testing. My view is we need to have a balance between the automated and manual testing. Couple of points
1. In order to have the tests automated and working with cruise control, a sort of maturity and experience is needed. I have tried implementing TDD with my team, it took really a long time for them to grasp.
2. Even if somebody is trying to automate testing, till date I have not seen anybody implementing them for the entire features. What I have observed is, developers would start writing unit tests and at some point of time, either to meet deadlines or for some reason they would skip writing tests and get into coding straight.
I always think it is a good idea to automate as many tests as possible and also keep manual testing continued.