IMHO, the only problem with teach pointers is that professors try to dress them up. Not understanding a pointer typically means not understanding the basics of the underlying hardware. This touches on one of the common problems today is that software has been split away from the hardware that runs it.

I'm certainly not saying that anyone who writes software needs to know the ins and outs of a modern CPU, but basic knowledge of how a computer works (memory, CPU, DMA, mmio, etc...) is what's often missing when talking about low level programming concepts.