From what I've read/experienced.
Most older ABS systems can be outbraked by an acceptable rider, in the dry. I've ridden a few and they kicked on in situations where I know there was no good reason for it.
Most modern ABS systems (particularly the sport models fitted to the ZX10R, CBR1000RR, etc) are very good. They can still be outbraked in the dry, but the class of rider has to be much higher than on the older models for that to happen. In the wet, they're much better, except for maybe top tier racers - particularly on the road, even for good riders where we have to deal with white lines, manhole covers, kids running out in front of us etc etc.
Personally, I would prefer a bike with ABS fitted on the road, but I'd also want the ability to turn it off for the track and for sunny days.
Steering on ABS equipped motorcycles doesn't work as with cars, but that said KTM for certain (and I believe BMW) are introducing ABS models that are now dependent on the lean angle of the bike, and I imagine they will be bloody brilliant.
FWIW - my current shiny ride is a 2007 ZX10R - it's got decent brakes, and a shed tonne of midrange. I've not yet locked the brakes up, but I've had the wheel spin up a few times under power in the wet/damp/cold. I'm thinking of fitting ABS to it (will involve taking a ZZr1400 system and modifying it) - my throttle control is sufficient that if it does spin up, its usually upright and not a worry to sort out, but braking is something that if something runs out in front of me I'd be concerned of losing the front end.