I've never had any issues using it...I can see where you're coming from though. Your point is for when you're solving for the time or half-life. But then all you have to do is take the log10 and divide.
It could also be I use it just to make my teacher grade things two ways xD
I'm curious on why they chose to use N=N_0 e^{- \lambda t} instead of N = N_O .5^{\frac{t}{half-life}} The 2nd one is one that I figured out, and it makes more sense to me; it is based off the idea of half-lives. (I'm not saying it's original or hasn't been done before, just was never shown to me)