I
don't think you should
discount the utility of CR'ing. It has its place, sometimes. It's one of the many tools you have at your disposal in poker, IMHO why ignore it.
For example, (anyone care to add to the list?)
It can sometimes be used to isolate/eliminate players (if they'll
fold 
) which will of course often protect your hand from being outdrawn.
It can also have information gathering value.
e.g. Allows you to see who thinks they have the best hand in certain situations.
e.g. Can be used on the
flop when you want to know the possible hands your opponent might have relative to the
flop knowing how your hand connected.
CR'ing can also be used against maniacs/bluffers to
trap them bluffing.
CR'ing is probably more useful in limit but I can see some use for it in NL when you want to eliminate players with speculative hands pre-
flop who tried to
limp in to see the
flop.
It can also be misused/abused and doesn't come w/o risks. Including of course, getting checked through as the most obvious one.