Oh sure, it's great. I would carry every piece of loot out of a dungeon and stagger to town (before I discovered horses). Now that I know how easy it is to make money, I don't bother. But in those early days, I'd shout my way to town. The first time...
Edit: fixed spoiler tag - sorry folks!
Shouts are a different magical tool. In some situations, shouts are essential; many examples come to mind in the main quest. Beyond that, you need to figure out how best to use them. You can certainly do without, as I'm doing now, but I miss Become Ethereal, Slow Time, and Whirl Wind Sprint. As for alleged incompatibilities between shouts and stealth characters: Throw Voice!