It seems to me that the main reason being put forward for preferring K&R (or similar) is saving space, but don't you think that this is a case of seriously getting things entirely the wrong way around? The purpose of a coding style is not to save space or to look pretty, it's to make code easier to read (because reading code is harder than writing code), to make wrong code look wrong and to make right code look right.
If we can all agree, or mostly agree, that a certain style is harder to read or fails in the other main criteria, then we should by definition also all agree (or mostly agree) that any other advantages that style may have are of reduced (or no) importance. If a given style takes 50% longer for a person to read and parse then that's time wasted for that person (and why obsess over saving a few blank lines if it comes at the cost of wasting someone's time?) If a given style makes right code look wrong (or worse - wrong code look right) then that style is obviously at best flawed, at worst completely broken.