The seemingly universal revultion to GOTO is largely due to Edsger Dijkstra's letter "Go To Statement Considered Harmful".
If you are determined not to use goto, something like
do {
...
while(0);
is probably safer than while(1) { ... } since it guarantees that you will not inadvertently loop (and if you are inadvertently looping, with while(1) you are probably inadvertently looping infinitely).
The one advantage that (ab)using do/break/while or while/break for this purpose has over goto is that you are guaranteed not to be jumping above the construct -- goto can be used to jump to a label earlier within the same function.
The disadvantage that do/break/while etc. have over goto is that you are limited to one exit point (immediately after the loop). In some cases you might need a staged cleanup: e.g., when you open a file handle, malloc some memory, read from the file... if the read fails, you need to clean up the malloc. If the malloc fails, you don't need to clean it up, but you still need to clean up the file handle. With goto, you can have one label per stage of cleanup and jump to precisely the right point depending on where your error occurred.
In my opinion blindly avoiding GOTO because of the prevalent hatred of it is more damaging than carefully reasoning out a case for its use on a case-by-case basis. A rule of thumb I use is "does the Linux kernel do it? If so, it can't be that bad". Substitute linux kernel with any other good example of modern software engineering.
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