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It's a simple question, really. Most Catholics don't believe in the Real Presence, and thus are heretics, and thus are excommunicated latae sententiae. We have to assume that this also extends to the priesthood in some form or another (approval of divorce and remarriage, sodomy, etc.). Since many priests can be and likely are also heretics, and thus are excommunicated, then what does that mean about the validity of their sacraments?
Firstly, don't assume someone is a heretic as you don't have the competency to declare someone is a heretic, a lot of time we are only as good as our teachers in the Faith.  This is an old question that has been settled a many times. 

From Wikipedia's article on Donatism (http://en.wikipedia.org/wiki/Donatism):

The second question was the validity of sacraments celebrated by priests and bishops who had been apostates under the persecution. The Donatists held that all such sacraments were invalid; by their sinful act, such clerics had rendered themselves incapable of celebrating valid sacraments. This is known as ex opere operantis, Latin for from the work of the one doing the working, that is, that the validity of the sacrament depends upon the worthiness and holiness of the minister confecting. The Catholic position, according to Augustine, was ex opere operato — from the work having been worked; in other words, that the validity of the sacrament depends upon the holiness of God, the minister being a mere instrument of God's work, so that any priest or bishop, even one in a state of mortal sin, who speaks the formula of the sacrament with valid matter and the intent of causing the sacrament to occur acts validly. Hence, to the Donatists, a priest who had been an apostate but who repented could speak the words of consecration forever, but he could no longer confect the Eucharist. To Catholics, a person who received the Eucharist from the hands of even an unrepentant sinning priest still received Christ's Body and Blood, their own sacramental life being undamaged by the priest's faults.
(11-06-2014, 06:05 PM)phattonez Wrote: [ -> ]It's a simple question, really. Most Catholics don't believe in the Real Presence, and thus are heretics, and thus are excommunicated latae sententiae. We have to assume that this also extends to the priesthood in some form or another (approval of divorce and remarriage, sodomy, etc.). Since many priests can be and likely are also heretics, and thus are excommunicated, then what does that mean about the validity of their sacraments?

In and of themselves, neither excommunication nor heresy vitiate the minimal ministerial intention required to confer a  sacrament validly.