I'd concur with you on this one, John. I made that point pretty strongly to managers in the training I designed / delivered through OPM on this subject. Regular reporting should suffice. You ought to know on a day to day (and, at minimum, weekly) basis what your people are up to whether they are in the office or not. That's why having a more measurable, projectized culture is so important. Clear tasks / deliverables, target dates, etc.