There were a couple of things plugged in in my house that were chewing up huge amounts of electricity. Very large incandescent bulbs in our bathrooms were one of them.
No? The whole point of the meter is that it won't occur to you what things to look at. The entire value proposition is spotting those things for you.
If you're the kind of person who memorizes the wattage of everything you plug into your house, then yes, this might not be money well spent. It was for me.