I've done it recently, If you were a newbie it might be a good idea. The best thing it does is get you to think about certain situations and what you would do.
But as with anything that is legislated they teach the mainstream thought, no room for those who want to move outside the square.
EG, there are plenty of long term cruisers who are happy without a raft. I don't like radios, There was a thread here recently asking whether others prefer another solution to inflqatable PFD's, some of us do.