Very much so. Of all the tools I have here I probably use that the most. Certainly a multimeter is useful when assembling circuits, and a scope is useful for analog signals, but hardly a day goes by when I don't debug or check something with the Logic.
Especially with something like the VGA generation, to take an example. That shows the relationship between the vertical and horizontal sync pulses and the pixels. You can immediately see if the pulses are there, have the right frequency, duty cycle, relationship to each other and so on.
But also with other stuff like serial (it can detect the baud rate), I2C, and SPI. Its internal decoders translate I2C, Serial, SPI, Manchester etc. into hex bytes, to save you the tedium of working out where the clock signals start, whether it is MSB or LSB first, and so on.