For more information on the tradeoffs involved with scripted testing, I recommend the following resources (in addition to all the links included above):
- Cem Kaner and James Bach’s Black Box Software Testing course lecture on test procedures and scripts
- Cem Kaner, "Measuring the Effectiveness of Software Testers"
- Cem Kaner, "Measurement of the Extent of Testing"
- Brian Marick, "Classic Testing Mistakes"