I agree that sequential shifting is better on the track to prevent shifting the balance around too much, but driving on roads isn't at all like a track. When you're on the track you know exactly what's ahead and all your skill and concentration is required to work as close to the limit as possible. On the road you've got no idea what's ahead, so all your skill and concentration should be on anticipating what might happen only once in your entire driving career.
Why would you want to sequential shift? Engine breaking works right down to very low revs, and although you wouldn't be able to make a smart gettaway in 5th at 20mph, you'd still be able to maintain your speed. If you're flipping through the gears you wouldn't be able to brake as smoothly, which could be more dangerous in slippy conditions. More movements mean more room for error and less time with your hands on the wheel. As for jerking the car around by going from 5th to 2nd, if you do, you're doing it too early.
In reality I think I sequentially shift quite a bit, but at roundabouts and T junctions with a good view I've got no problem with going from 4th to 2nd. That's what I was taught about 8 years ago. I've never worked out a way to drop to 1st when crawling in traffic though. I have to stop first and then pull away again, or do a few kangaroos, with or without blipping the throttle.
My Dad's got a weird habbit of shifting to the same side of the box first before selecting the gear below. I.e. 5th to 3rd, then 4th before re-engaging the cluch, or 4th to 2nd, then 3rd. I've asked him a few times and he mutters something about driving old VW vans and Fiats with ropey gearboxes so you can't find the gate.