I'm going to have to say it really depends on how you like your computer setup. I think for most people it would probably not be worth the time to go through and dredge through creating and installer and keeping all of the programs you use up to date.
That being said.....if you are particularly anal about how your computer works (I am one of those people), and you know how to create installers pretty quickly it might be a time saver. For me, it takes about 2 days to get everything installed that I use (setting up all the directories, and file paths etc. etc.). Most of the programs I use, I have had to purchase personally and so I don't have access to the most up to date versions. Where I work, we tend to buy computers that, shall we say, aren't the most reliable machines, and I have gone through about 5 in the past 2.5 years. If you are in this situation, it could be beneficial, but if you don't re-install frequently and you don't work with building installers, it probably won't be worth doing.