Good points especially about the browser being the platform for the application.
In fact, in Ajaxy applications, developers want to return the back button functionality to the application since it's so useful. Very rarely do you need to disable the back button. Usually all that is needed is to prevent the page being cached and user authentication so that the user cannot view previous pages when logged out and good use of onbeforeunload (where supported) to prevent loss of unsaved data.
This question has been asked a number of times, so Frinavale has begun a soon-to-be article
here.