I recently received a tripod for my camera as a gift.  Digital photography is a hobby of mine and I only recently recognized that a tripod might be useful.  Now that I have one, I can tell you that it is a very valuable addition to the photographer's kit.  Let me explain why.

When using a camera you are limited by the minimum shutterspeed you can choose to avoid camera shake.  If camera shake occurs, the result will be a blurry photo.  Image stabilization can help solve this problem somewhat, but still is only a partial solution.  A tripod solves this problem; with it you can set any shutterspeed offered by the camera.

Access to slower shutterspeeds may not seem like a big deal, but it is.  It allows you to do all kinds of interesting things that were not possible hand holding.  It also allows for you to take two of the same shots that differ only by exposure.  This is a requirement for high dynamic range photography.

I highly recommend the addition of a tripod to any serious photographers kit.