I'm still a firm believer in the people who need access to that stuff should be given access to the Admin CP. It's important to remember that someone can have as much or as little access to the Admin CP features as you like.
A load of our moderators have access to the Admin CP for user management purposes.
The earlier argument of the time cost is pretty negligible. It takes seconds to go to the right page in the Admin CP. Even quicker if you place a direct link to the log in an accessible place.