
There has been no empirical evidence to support the first statement.  True,
there is a power surge at startup that has the potential to do damage, but
the internal power supply is well-protected. (I've turned my Mac on and off 
six or seven times a day for three years without problem).  The monitor is
the same.  To leave it on is to waste a lot of electricity -- twice as much
as a television, possibly more.

Turn it off when you're not using it.  It'll save you money and the world
a few more resources.

-Kelley-
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Thomas Kelley Boylan, PowerPC, IBM Austin, kelleyb@austin.ibm.com