The traditional line about hiking boots, that they prevent twisted and broken ankles and protect your feet from the rigors of the trail, are some of the "cannonballs of belief" that Ray Jardine is referring to in his famous dialogue explaining how his revolutionary outside-the-box thinking about ultralight backpacking led him to question and finally abnegate his own religious beliefs. http://www.rayjardine.com/papers/cannonballs.htm
Since reading Ray Jardine's first book, "The PCT Hiker's Handbook" back in 1997 I put away my Asolo all leather hiking boots and never wore them again. Instead I've worn hiking shoes and even Teva sandals to hike the High Sierras, deserts, other forests, and coasts in California, Hawaiian volcanoes and jungles, and Philippine jungles, and I've never had cold feet, sweaty feet, jungle rot, nor any blisters. And it goes without saying I've never had any twisted or broken ankles. I've never had any problem with traction wearing various hiking/trail running shoes including Asolo, Merrell, Solomon, and New Balance. And I don't wear thick socks, I only wear one ounce 100% polyester dress socks, which last for many trips, while I usually buy a new pair of hiking shoes every year for around $50-$100.
My kids have also grown up wearing nothing but trail shoes and none of them have had any problems, ever. My wife too. We don't own moleskin because we've never needed it!
It's up to you to try both kinds and decide based on your backpacking style and gear weight, but for me, carrying around 25 lbs of gear from skin out including food and fuel for a week's backpacking trip, on trail and often cross-country, with occasional snow crossings, and often class 2-3 talus-sloped rock-hopping peak bagging, there's absolutely no reason for me to consider hiking boots, let alone all leather ones.
Here's a short essay I enjoyed on the subject of hiking boots vs. shoes: http://www.the-ultralight-site.com/hikingshoes.html