This is probably an unusual perspective, but I think that anyone who believes that multiple return statements are to be favoured has never had to use a debugger on a microprocessor that supports only 4 hardware breakpoints. ;-)
While the issues of "arrow code" are completely correct, one issue that seems to go away when using multiple return statements is in the situation where you are using a debugger. You have no convenient catch-all position to put a breakpoint to guarantee that you're going to see the exit and hence the return condition.
