Tim, I think the "strategy funds" , and other similarly constructed ones , are a good choice, for many, many people.

While working, I only had one no-load mutual fund (Large Cap Space) available for 401.k type account.  The good news is it was managed by GE, with a very low expense ratio.  I saved 20.5% of pay for 27 consecutive years w/o withdrawing anything...holy cow, it worked!

R48