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Any value? Well yes if it gets you a lower insurance premium, does it?
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In my experience it makes no difference if you have/have not any qualification.
My insurance company say that they assume that you DO have the necessary skills to manage the boat safely and dont offer a discount if you are better qualified.
Paul_Glatzel
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The same result can be achieved by self study without attending the theory course but i would argue with a good Instructor much of the value is in how he/she brings aspects of the course to life and evidences the benefits/uses of the techniques in 'real life'
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I think you underestimate the quality of the correspondence courses. In my experience they are better structured and more focused than relying on an individual instructors attitude to the course structure.