Each test you write is a value-add. You get increased safety that what you're testing works the way you think it does, and that it will continue to do so as people modify it.
Not all cases need to be tested; "test to your level of paranoia" is our motto. In the case of tests themselves, the value add for testing individual tests has never been worth the ROI. There are, however, tests for the testing _system_, insofar as that's possible (which it is, for the most part).
As for the "I happen to view TDD as a completely obnoxious and unnecessary exercise" objection, I'd be willing to bet you've never tried TDD. It doesn't take long for proper TDD to _save_ you time. Each iteration cycle is slower, but the marginal cost for adding new code to a complex codebase doesn't increase nearly as much.
Without TDD, you soon have to spend time on manual testing, and then you've got humans in QE basically practicing TDD for you, as the walk through script after script doing things that could be done faster by a computer. The only time it's appropriate to consider skipping TDD, IMO, is on tiny one-man projects.