Wouldn't be without it! Saved my bacon a number of times.
True, in some ways it is not very "Mac-like," but it works fine as long as you do things its way. Through the years, I've backed up to streaming tape, SyQuest cartridges, magneto-optical, and now use CD-R.
I do not use scripted backups, but I do try to backup daily except weekends. I alternate between a Set A and a Set B. That way, if something goes wrong during a backup, you can go back to the previous day and lose only one day's work.
Just a couple of weeks ago a friend lost all of his 2003 QuickBooks because he had not been diligent about backing up. He and his CPA are now painstakingly reconstructing everything manually so they can close the 2003 books on his business. Bummer!