Weapon Training: Is it really worth it?

I think we can all agree that nowdays knife take aways are of high importance to train in for any martial artist. But do you still believe it's important to practice jo and bokken techniques? I mean, we're told it helps our hand to hand technique, but surely training solely in hand would do that right? I just think that some schools put a little too much emphasis on things we can't really use. Granted, Ueshiba was a product of sword culture, but is it important in being able to use aikido in a life/death situation? I think many students would agree, but I guess many sensei's would not lol.