I have a NYS EDL (Enhanced Driver's License). I've had it since '09 and I had to show up to the DMV with a bunch of other documents. Basically, if you travel across the border (Mexico or Canada), it counts as a Passport, so you don't need to carry a passport and your photo ID.
However, to date, the only use I've gotten out of my EDL is as a conversation starter. Some TSA agent or car rental rep will go "oooh, what's an ENHANCED driver's license?".
Other than that, if I do end up traveling out of the country, I can't see leaving my Passport at home, so I end up bringing both anyway. It's not like carrying one extra little booklet is going to cause me much grief. The value proposition just isn't there, unless you live near the border and cross often enough.

Mordy