Absolutely. Not only do mostMost microwaves defrost unevenly, but studies have proven that microwaving food destroys the nutritional value (up to 99%). Not only that, but some studies have shown that the microwave can cause other health issues related to the microwaved food as well (I won't get into that here).
On the other hand, there are a couple faster ways to defrost other than letting it sit on the counter. Further, it is in fact even better to let meat defrost more quickly, because meat left out will allow bacteria to grow, which is a further concern.
One tip is to let a frozen food rest in warm water while sealed in a waterproof bag of some sort. This will significantly decrease defrosting time.
The old wives' tale was based off the presumption that letting it sit out is the only way to defrost evenly. It does hold some grain of truth, as quickly defrosting an item runs a chance of the inside not defrosting all the way. However, due to the distribution of temperature, if you let a frozen item sit in water (while in a waterproof bag), the temperature will eventually even out, defrosting it all the way to the core.