As far as I am concerned there is no debate. Those who like CW claim it is more efficient than phone, and they are right, it is. I don’t know if it is equivalent to three S-points but I am prepared to concede that it is substancial. If efficiency was the only objective in ham radio then we would all be pounding brass - or using computer modes! As a challenge CW is one amongst many challenges open to us, if we prefer other challenges then we are entitled to engage with them. I prefer to hear the voices of the people that I contact, if that involves a penalty of 3 S-points, then so be it.
That being said, I have a couple of suggestions to offer. Firstly, the FT817 has a CW identifier, you can find it in the second menu, number 31. This might help. Secondly, if you trade the FT817 up to an FT857 then you can use the beacon mode, second menu number 11. As Arnaud said, you may get called by CW operators, and of course the FT857 weighs twice as much as an FT817, but you also have the option to increase output power for difficult contacts.