asuweb is right, as far as i know (1/3 through atpl groundschool) we dont learn it in the UK, but if you take an interest it can make identifying navaids a lot easier, and give you more room to concentrate on flying, which has to be a bonus.
But I do agree with you sam, with all the technology these days, it would be a lot handier to have navaids transmitting their identification using the phonetic alphabet!