Foodchain, the issue with mutationism is not what happens if we try to "subtract natural selection from the equation" of evolution, but what happens if we control for, or account for, effects of differential reproduction (fitness differences) and then ask "what is left?". Is there anything else, any pattern or phenomenology, that is explained, not by selection, but by differential effects of mutation and development?
By analogy, we could ask (in the context of the nature-nurture debate), what happens if we subtract out the effects of genetic variance on some human behavior, e.g., violence? Is there anything left to explain?
It is crucial to understand that, by asking this question, we are not saying that genetics can be removed from the mechanism that generates humans and their behavior. However, we *are* assuming that we have experimental and mathematical tools to separate out genetic effects from other effects when we are accounting for patterns of behavior. Indeed, these tools exist. One relevant tool in this case is the study of identical twins raised apart-- same genetics, different environment (same "nature", different "nurture")-- but its not strictly necessary to do it this way.
And of course, the answer is that yes, when we subtract out the effect of genetic variation, we still have much to explain about behavior. There are environmental components to behavior.
Obviously both mutation and selection are necessary in any account of the mechanism of evolution. The historical position of mutationists is not a position of neutralism, of denying selection. The position of mutationists is that both steps influence the outcome of evolution in important ways.
By contrast, the neo-Darwinian position is analogous to genetic determinism, i.e., denying the relevance of one factor. The neo-Darwinians say that, although mutation is necessary for evolution to occur, the nature of mutation does not have any influence on *how* evolution occurs, what direction it takes, etc. Instead, the neo-Darwinian view is that "selection is the ultimate source of explanation in biology".
Of course if you re-define "natural selection" in a broad and fuzzy way so that it ends up meaning "whatever happens in evolution", then of course "natural selection" swallows up everything, including directional effects of mutation biases.