I don't think it should be used as the birth control of choice preventative contraception is a better way of doing it. But if you make it illegal women may opt to have back alley abortions so you're potentially putting their lives at risk. As long as it's done at a very early stage it won't be any worse than stem cell research, I don't think anything conscious is being destroyed there.
Come all ye faithful joyful and triumphant.