I believe it should still be taught, just because there are so many folks who do still write with it. Like others have said, if you've never been taught how to read it, then you can't read a letter or a note written in cursive.
I was taught cursive when I was in school, but I never really used it unless I was required to. My handwriting now is more of a combination of cursive and individual lettering. Some of my letters, like "th" or "ae", I will run them together similar to how it's done in cursive.