Do you think the Google WondeWheel option is a waste of time or do you find it useful in developing and finding keywords and sites?
It is not a waste of time if you need suggestions for keywords in your niche. It is similar to the Keyword Tool as it also gives you suggestions for more keywords, but the Wheel is more fun to use and you can discover new sub-niches with it and make a new site around those sub-niches.
Whenever I've used it I see the same related keywords that are at the bottom of normal search. Can't see the point of it.
Exactly, all these people who think it's amazing or something new are blind. That data has been at the bottom of the regular search results for years. The BlunderWheel just makes you go out of your way. Pointless.