It certainly has seemed to me that the important part of meditation is the relaxation that it lets you achieve. I think it's literally impossible for me (at least) to get as relaxed as I am after a typical hour of meditation by any nonmeditative means. (If you interpret "relaxation" as having low blood levels of e.g. cortisol this is actually measurable.) And I know that I have days when I don't sufficiently relax myself when I sit, and I usually don't see the same benefits that I do from "good" sits. 'Course, a lot of this could be confirmation bias.
Also, anecdotally, I maintain substantial concentration for 30+ minutes a day because that's what studying is, and the short- and long-term effects of that concentration don't seem to be anything like the effects of meditation.