I have gone almost every year since 2007 and I would say YES. However, that's mostly because I've always gone with an awesome group of friends. If you want shorter lines, or want to avoid ACERs, it's not the time to go. That said, it's fun to be there with a lot of other people who just love to ride, and they run the Flyers much faster than they do on general operating days.
If you do go, my suggestion would be to do the Saturday evening PPP event, and Sunday afternoon ride band. Saturday afternoon has gotten really crazy for lines with the PPP attendees mixing in with the Covered Bridge Festival people. Whereas Sunday is usually pretty dead.
Also, the Cesari's pizza is nowhere near as good on Saturday evening as it is every other time. They pull them out too quick to feed the massive amount of PPP attendees, and the crust doesn't get crisp.