The usefulness of the Architect role may also depend on the size and topology of the organization. I work in a Very Large Enterprise Company, and our group's architecture team has to make sure not only that our group's systems/projects are well-designed, consistent, maintainable, scalable, etc, but also that they interact nicely with the MANY other geographically-, pyramidally-, and budgetrarily-distrubuted groups, that we aren't duplicating effort, that the lines of responsibility for a given system integration make sense, that we have the same vision for the trajectory of the overall enterprise strategy, etc.
This means our Architects have to collaborate/negotiate/politick with many other groups' architects (and the occasional program manager), while having both the 100,000' perspective on the entire company's organizational structure and systems, as well as the fine-detail nuts-and-bolts of the workings of our own group's systems so we know what complications may arise in interactions with other systems.
NB Our group director has a far-higher-than-normal grasp on these details (others are not so lucky!) but the level of cross-enterprise collaboration is more than he has time for.
Some of this sounds like it'd be the work of a Systems Analyst (which is what we use the SA abbreviation to mean), and that's true, but there are plenty of actual architectural and technological considerations as well: infrastructure issues, build/release coordination, enterprise schema maintenance, shared libraries/technologies (example: which of the four ESB technologies should we use for this project? Oh, really, you want to give us a flat file from the mainframe but wrap it in <xml></xml>? Argh.)
We also must keep a close ear to the product management/BA group and the stakeholders so we make sure our vision is in sync with the business's needs.
So you could say our architecture group is a mix of internal technical leadership, R&D, development of key moving parts (in our case, integration code), mentorship, systems analysis, negotiator, integrator, etc.