Yes they are worth it and they are an increasingly critical portion of your retirement savings. Traditionally, people relied on:
1) company pension
2) Social Security
3) IRA
4) 401k
As 1) and 2) are fast drying up, 3) and 4) become ever more critical. You should be maxing out your contribution to your IRA and 401k every year that you can, generally in the following order:
1) Contribute to get the maximum company match in the 401k
2) Contribute to the maximum annual limit for your IRA
3) Contribute to the maximum annual limit for your 401k
With you, since you have company match at all, I would suggest funding the IRA first, since, everything else being equal, you have more control over your IRA investments than your 401k investments. If you have more money after that, contribute to your 401k. Ideally, of course, you should max out both.