Certainly, let's legalize now. While we're at it, let's legalize homicide, since clearly prohibiting it has been of no use. And cheating on one's taxes, and speeding, and adultery, and anything else you might want to do that is prohibited because _you_yourself_ cannot imagine wanting to...but somehow others do. Enforcement of all these laws is SO hard...let's just get rid of all of them.
Grow up, people. These things are unlawful not because of their affects on the individuals but because of the secondary effects. Legalizing narcotics will have no effect whatsoever on the trafficking other than to cut down on the number of arrests. Prices, already so high people will sell their children for it, will not move.