The best thing about laminators - if you use the high-gloss pouches, you can write on them in whiteboard marker then erase afterwards - so those repetitive check lists etc you can buy OHP dry-erase markers (which are a nice fine line) and fill it in - then when you need to re-write it, give it a wipe and start again. I use them a lot for log sheets on equipment - for example I like to write the projector lamp hours on the case when it is packed down. Same with some of our rigging - I like to do a thorough visual inspection after every 10 uses - so I have a sheet in the rigging locker and we just do a /\ each use - and when it gets to 10, I do a logged visual inspection.
I also use it for durability - any cases that I fill with things I like to laminate a label for detailing contents.
Can I live without it? Sure... but for $20 I bought a really cheap (and small) one - it does come in handy.