I have a fairly large screen (27inch cinema display) and use Vim. 80 Character lines are perfect. They look nicer, are easy to read (in the same way books are easy to read when lines are not super long) and with vim can accommodate ~4 split windows side by side which is useful.
No, we shouldn't. It's about just the right line length to mate reading a lot easier. Take a look at this to see what I mean . Another thing, one liners are great, and I love them too. But they don't hurt only readability.