I've been on Ravelry for almost a decade. I've enjoyed the various patterns and stash stalking. The forums are interesting and like any forum, one does has to take with a grain of salt what's in there. There are people who like to provoke individuals just to get the reaction they want. There are others who truly are there to help. I know one of the forums I watch helped out immensely when an indie dyer was unable to keep up with production and disappeared.
The site is an excellent resource for the new and experienced knitter. I have made new friends on there as well as done some of the swaps.
Personally I like the site and think it's a value for the newbie as well as the experienced knitter.