The throttle body is not a wate of money. It just needs to be used for what it;s intended for, to change the throttle response and remove more restriction from the stock intake system.
Obviously you can install a open element air filter on the end of your MAS sensor, use a custom bent intake tube and remove the stock air silencer, do a full custom high flow exhaust with headers, etc.... at this time your biggest retriction will be the factory MAS sensor, so you can get a larger aftermarket unit to remove that restriction, then it's time to remove the final bottleneck, which is the stock TB.
You are only as good as your smallest bottleneck.
So yes blowing $200 on the BBK 66mm TB may seem like a wste of $$$ if thats the only modification you make, but if your stock throttle body is your only factroy intake restriction left, it can yield great performance improvements.....in Alec's cace with a blower it;s a must have.
You will lose some low end torque simply because you are changing the throttle response, but I make up for that with all my other mods......