I sat through a few hours of clicking to achieve some 20+ perks, and it does truly make you a Wasteland God.
You also get several thousand 9mm clips and leather armor. If you're willing to waste some more time (and perhaps if you've picked up Jury Rigging, but maybe otherwise), you can repair the leather armor Chet gives you. It cuts down the sheer number and increases the price/unit. I store these in Victor's shack, and if I ever need to sell useless crap for caps, I just go to the shack, pick up a few pieces of armor, head to Gun Runners and trade them in for caps or goods.
I did this as well, and it felt way overpowered (my character that is). So, i tried it going to level 6/8 to just get a couple of extra perks. I like doing it this way as your character starts out with some skill, as I would imagine most people would, rather than being some level 1 weakling, with Fo3 you were fresh out of the vault as a child...here in NV you had a career and got shot.