I agree with the previous contributions: it's a back-up, it's a way of sorting out what you've got. It was invaluable when I left my dearly beloved Sony Reader on a train.
I also use it frequently to convert word documents into a format that I can carry on my e-reader (you have to save them in ODT first).
It's also a wonderful example of the useful stuff that's available free on the web.
I have to say it took me about three years to fully understand what it could do, but that's my fault. I'm still a bit lo-tech. It's worth reading through all the advice that comes with it.
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