Doubt it was a "guru" who'd had any experience in high traffic...
Websites are usually "dirty" by the time the person is viewing the completely loaded page. Consider a form that loads from the database and then saves the data that's edited?? It's idiotic the way people go on about dirty reads being such a no no.
That said, if you have a number of layers building on your selects, you could be building in a dangerous redundancy. If you're dealing in money or status scenarios, then you need not only transactional data read/writes, but a proper concurrency solution (something most "gurus" don't bother with).
On the other hand, if you have an advanced product search for a website (ie something that likely won't be cached and be a little intensive) and you've ever built a site with more than a few concurrent users (phenominal how many "experts" haven't), it is rediculous to bottle neck every other process behind it.
Know what it means and use it when appropriate. Your database will almost always be your main bottle neck these days and being smart about using NOLOCK can save you thousands in infrastructure.
EDIT: It's not just deadlocks it helps with, it's also how much you are going to make everybody else wait until you're finished, or vice versa.