Jay, I find that quite a bit of the syllabus is useful in airline life. Not all, but some. The exams also put us all as a working community on a level playing field, and give the foundation for building further knowledge, based on practical experience gained in the job. I know what you mean, there is a lot of theoretical bumpff but you'll be better for it. Without it every gibbon out there could do the job.
Good luck,