VOIP - Am I Missing Something?

I like to think of myself as an early-adopter, but I just don't get all the hype surrounding Skype and VoIP in general.  What, exactly, is the point?  Why would I want to waste some of my valuable bandwidth on voice conversations when I have two perfectly good telephone lines for doing that?

Every time I read about VoIP it's sold on the low price of calls, but landline call charges (in the UK at least) are a pittance, at least if you stear clear of the big players like BT.  Joce and I use 1899.com for our landline calls, and pay just a 3p connection fee for all our calls to the UK and USA - how can you beat that?  Over the past few months we've only racked up a few quid worth of calls, so I just don't see that it's worth the effort going the VoIP route.

If I'm missing something, let me know.  I've been wrong before, but all this hype seems misplaced to me..