personally, i think includes are great.
I tend to write sites divided into many files, so i can keep certain functions together. (i haven't mastered oop yet)
then i have one file that loads all my included function files.
Therefore i need only load one file in all my main files. (are you keeping up?)
I'm not sure whether this has many overheads, i guess they are minimal but would depend on the size of the site and th includes