IS expands your capability envelope. Period.
But if there was, is, and will never be, a need for that increased capability then, of course, it is a waste of money.
Otherwise its an investment. Then the question is, what kind of rate of returns can you live with, if in the first place the extra cost was not affordable.
OK, enough of theory. An example: myself.
At 200mm, I can shoot from 1/125 to 1/160. And as IS generally improves your stability by two stops, I can now shoot either:
1. at 1/30 - 1/40, at same aperture and ISO, meaning I can shoot handheld what I previously cannot due to handshake, eg in low light conditions
2. convert the 2 stops gain to increased aperture, eg from f5.6 to f11, for more depth of field, something useful for me when shooting butterflies with the 200mm
3. convert the 2 stops gain to decreased ISO, eg from ISO400 to ISO100, ie at same aperture and shutter two stops down, or some other combo thereof, and incur less noise in your picture.
So the question you have to ask is: is any money worth the shots you otherwise cannot make or need some other out of cam solutions, eg tripod, noise reduction software, etc
If the answer is yes, then get IS, if no, then dont.
But if there was, is, and will never be, a need for that increased capability then, of course, it is a waste of money.
Otherwise its an investment. Then the question is, what kind of rate of returns can you live with, if in the first place the extra cost was not affordable.
OK, enough of theory. An example: myself.
At 200mm, I can shoot from 1/125 to 1/160. And as IS generally improves your stability by two stops, I can now shoot either:
1. at 1/30 - 1/40, at same aperture and ISO, meaning I can shoot handheld what I previously cannot due to handshake, eg in low light conditions
2. convert the 2 stops gain to increased aperture, eg from f5.6 to f11, for more depth of field, something useful for me when shooting butterflies with the 200mm
3. convert the 2 stops gain to decreased ISO, eg from ISO400 to ISO100, ie at same aperture and shutter two stops down, or some other combo thereof, and incur less noise in your picture.
So the question you have to ask is: is any money worth the shots you otherwise cannot make or need some other out of cam solutions, eg tripod, noise reduction software, etc
If the answer is yes, then get IS, if no, then dont.