Absolutely right. It's a great trick to focus the mind. It also provides a dramatic visual contrast with whatever other shots are involved.
It often provides the only action in a scene (where the other shots are of someone typing and maybe their facial expressions). Words appearing on a screen can be every bit as dramatic as building being blown to pieces. It's all a matter of context.

The important thing, as Marc pointed out, is to get the timing right. This may take quite a bit of experimentation (as Marc discovered himself). I'd add that you absolutely MUST try it out on other people who haven't seen it before. The problem with being a director and editor is you know exactly what's coming next so it's all too easy to leave things on the screen too long/not long enough.

Remember in this case the words are your actors. Their direction is every bit as important as those of humans.

But don't get too defensive about oilmanrich's comments. If it bores him, it bores him as it will no doubt bore others. You can try to find out why and take his comments on board or ignore them. Or, if you're happy that you're doing it right and he's not your target audience, you can ignore his comments without even trying to discover the cause of his boredom.

Lets face it, none of us are going to please everyone.

Indeed my latest throw-away was praised by many people I showed it to for its brevity and pace. My son (who hadn't read any of those comments) had the reaction that it was rather long and very slow paced. My own flesh and blood! Fruit of my loins! Can you believe it?

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Tim