Is "No Problem" A Suitable Substitute For "You're Welcome"?

People often complain that customer service reps sound like — and sometimes are — reading from a script. So while many of us appreciate it when we speak to someone who treats us in a less-stilted fashion, is there a point where a CSR’s tone and diction can become too informal?

Consumerist reader Mike wrote in wanting to know:

When did “No Problem” replace “You’re Welcome”? I recently spoke to a polite customer service rep and at the end of the call, after I said thank you, he replied with “No problem.”

It seemed a touch impolite to me, but after asking other people — all of whom are younger than I — they said that they thought “no problem,” was more polite than “you’re welcome.” Am I the one who’s out of touch?