I still like the idea of a minimally patched system built and configured from the ground up. Building everything from source takes a long time, so I didn't do Linux-From-Scratch more than once and instead most of my linux machines are now running ArchLinux, which has a similar philosophy about systems except that they distribute compiled binaries.
Anyways, if you haven't built many programs from source before, this is a great way to get a curated introduction. Worth it in many ways.