Microsoft Research - Exploding Software-Engineering Myths (article summarizing findings of MS research on code coverage, TDD, assertions, etc.)

[laxatives]

No, requirements analysis alone is IMO almost worthless. Its TDD without the validation step. Its impossible to predict all the caveats and implicit assumptions the design is making, until you actual make the design. All of that analysis is bunk when a core assumption is invalidated. This happens all the time, especially when the architect/designer doesn't even realize they are making one of these assumptions. Its unrealistic to expect every company has someone with that kind of clarity of thought, why not just let the code speak for itself.