Here's another angle that I've been thinking on.
The whole purpose of school is to get an education. We complain when schools play babysitter and do everything but properly educate our kids. We whine when schools start telling kids what they can and can't bring for lunch in school. The purpose of a school is to educate. The overwhelming majority of recess is to go run off pent up energy. I understand that sometimes its good to get away from the classroom and recharge your battery to be ready to go again. But recess in and of itself has absolutely nothing to do with education which is the responsibility of the school. Making sure your kid gets their exercise and eats healthy is the responsibility of the parent. Many of us on here don't think its the government's responsibility to keep our kids from getting fat, yet some of the arguments on here points to that as being a reason to keep PE around.
So there is a part of me, even though recess was one of the best times of the day and is very beneficial, that says who cares? I don't see how it fits under the definition of education. I know that their reasons for doing this are probably different from mine, but to a large degree I don't see an overwhelming problem with this.