It depends on the team or teams you're working with. The chief benefit of UML is that you can share diagrams with other individuals and teams without having to learn each others diagramming language. If the team you're working with doesn't know UML, it may not be worth going down that road unless everyone is interested and you know you'll be working together for a while.
In my experience UML sequence diagrams and object model diagrams are very usefully and generally understood by all. Sequence diagrams in particular have the ability to resolve design issues through the disipline of their construction. I haven't found use case diagrams to be as useful. Requirements are challenging and strongly dependent on human and organizational factors regardless of the methodology.
If you're communcating with non-technical stakeholders, UML is a waste of time because they won't have studied it. Use simple, well annotated diagrams. Colors are very effective.
If your team is all onsite, sometimes there's nothing better than a couple of whiteboards and a freeform diagramming style.