No, it isn't worth it.
Pros:
1) The points from clicking email links post promptly.
Cons:
1) Extremely slow redemptions.
I redeem 1K MyPoints for 1K HH points. In the past, it's been fairly fast. Lately, it's taken longer than 8 weeks (to post electronically - sheesh), and my latest has taken 11 weeks and 4 emails. Still no 1K HH points in sight. Others have also experienced problems.
2) Extremely slow/problematic awards. Using MyPoints as a shopping portal sometimes works very well, and sometimes not.
3) High redemption costs. Comparison shop the majors - AOLAA, MyPoints, ClickRewards, and MileMall.com, and you'll see that MyPoints doesn't offer competetive redemptions.
4) Long redemption buildups. If you are NOT using MyPoints as a shopping portal, and NOT taking advantage of the email points other than clicking links, it takes a rather long time to build up points.
5) Awful customer service. MyPoints has no phone # listed. The email address generates a useless auto reply, followed by "customer service". I have yet to resolve any problem with them thru one email - it has usually taken at least 2 or 3, and at least 10 business days. Compare this to ClickRewards.
Milesmall and Clickrewards both provide more reliable posting and better customer service (and yes I know CR is bankrupt).