Would better monitoring/tracking improve soccer?

After I watched the goal that the US team scored today taken away by a ridiculously bad call, I started thinking. We have the technology to monitor the exact position of every player on the field (almost completely accurate off-sides calls). We could put enough cameras around the field that we would know which players actually got knocked down and which ones weren’t even touched (faking it). We could get an instant replay of important goals (like the one today).

On the other hand, my favorite sport is Ultimate, which doesn’t even have referees at all, which is part of its appeal. I can see how people could prefer not introducing more technology into the game.

What do you think, would it improve the game, hurt the game, or just be different, but no better or worse?