Interesting thread (and there have been a few before, and there will likely be more in the future). After reading several related materials (including ICAO's and FAA's), the gist of the current regulations as I understand them (and agree with) is:
Follow the RA - unless there is positive determination that following the RA will endanger the safety of aircraft (in that case, don't manuver opposite of RA).
The only exception to following the RA is when doing that will definitely put the safety of the aircraft in jeopardy (like flying into terrain or another aircraft visually confirmed as in conflict).
It is the understanding of the wording of these exceptions that appears to cause some confusion. These words are NOT to be interpreted as "don't follow the RA if you have visually identified the conflicting traffic *you think TCAS is telling you about*." They are to be interpreted as "don't follow the RA only if you have visually confirmed aircraft/terrain/obstruction you will run into while folllowing the RA, and even in that case don't maneuver *against* the RA."
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The exceptions to RA noted are basic common sense pilot responsibilities that don't require any special "judgement." Once that is understood, "follow the RA" is the simple rule to remember.
[edited to remove typos]