They have their uses, but as others have said, not 100% accurate. The calorie counter requires that you log in and update your weight and BF%, then it calculates your calories burned based on that, plus your steps. If you are 6' 250lbs and have 30% body fat, you're going to burn close to 3k calories just sitting in a chair all day. Reading 4k calories on your fitbit after adding in a good bit of walking around isn't abnormal, but don't think you exercised 4k calories.
I'm a tech junkie, and obsessively log my food into MyFitnessPal, so the fitbit is just another thing to help me out. If you have cash to burn on another gadget, I'd recommend it. If you don't, it isn't worth prioritizing.
If you get one, the wrist strap ones look nice, but the instruction manual still says wear it on your torso for more accurate results, which defeats the purpose of the wrist strap. I would recommend the Zip, has a nice belt clip and so far so good on keeping up with it for me. If you want to see the value and have an iphone, there is also an app that will work and do pretty much the same thing, give it a try and see if it is something you actually care about looking at.