Marijuana/weed/pot, whatever you want to call it... Should it be legal...?

There's been a huge drug bust at my school recently involving multiple students that were under the influence of mary jane. They were arrested and charged with being under the influence and possession of marijuana. I've done a little reading about the drug, and I'm not sure if I agree with weed being illegal. The effects seem much less dangerous than many things like cigarettes and alcohol. I was just looking for other opinions on this fairly controversial subject, especially since some states have started legalizing medical marijuana. Please give me your opinions, they will be greatly appreciated.