I like having long term debt for land.  Been there for 38 years and don't have any plans to change that.  Gives you a good reason to get up in the morning.

I don't like being in debt for machinery.  I don't run good equipment but it is paid for.  

Operating loan on inputs.  Necessary evil for me.  Use a line of credit but pay it off as soon as possible.  Never roll balance in it from one year to the next. 

If some choose to be debt free and are able to do so, good for them.  Debt for me is not a problem.  In fact, I prefer to be in debt.  That has always been part of my farm business plan.  When, and if, long term debt drops to a certain level in relation to total assets it is time to stoke the fire a little.  

Kind of like Patton was on war.  I love it.