You have no clue what you are talking about.
In proper financial planning, a 30 year mortgage with extra payments is the proper way to go. Given most big bank rate spreads, if you get a 30 year mortgage and pay the difference between a 30 year and a 15 year at the same about, you pay the loan off in about 16 years. Difference is, you have the flexibility of having a lower payment in case of a layoff or something catastrophic. Just because you think you are invincible doesn't mean shit can't happen. Just as an example look at the sticky at the top of the page with Eric Yetzer. 33 and has cancer, that comes with tons of co-pays, deductibles etc. Having the ultimate flexibility in your financial situation and using debt as leverage and to your advantage is what makes millionaires.
As for the ARM loans, interest only loans and such, they have their purpose. That purpose is not for the person buying their 30 year dream home.