I agree, blaze. As a general rule, I don't use it unless it's really the right tool for the job (previously mentioned large pinion or axle nuts) or I have a ton of same-sized bolts to remove (such as the 14 sub-frame bolts on a MINI when I'm replacing LCA bushings...). I have taken to using my cordless impact wrench on lug nuts, but that's partly just to cycle the battery (even more so since I've switched to a different car for auto-x and I'm not swapping wheels in the lot right now).
In a way, it comes down to one of the main reason pro-wrenchers have so many tools. For them, time is money and if a tool can cut the time of a job down substantionally, then it makes a lot of sense. I'm sort of an in-between wrencher. I work on a lot of different cars and I'm often pressed for time doing it, so I've been able to justify (to myself) the purchase of some arguably 'extravagant' tools. Some more so than others... For example, "most" DIY'ers get by fine with simple $40 strut spring compressors... however, I found these lacking when I needed to swap springs on Spitfire shocks - so I splurged on a OTC Strut Tamer... Once it's set up, it can change springs VERY quickly. However, I can't leave it permanently set-up, so that is somewhat wasted on me, so it turned out to be not one of my more intelligent purchases...
I will say; once you have your own lift, it's hard to imagine wrenching without one again... 
