I don't think lists are completely useless. Structured study is more effective than not - that's why we have textbooks, classes...and kanji lists.
The nice thing about the grade lists is that the characters listed first tend to become the building blocks for all the other kanji. Knowing those building blocks certainly never hurt anyone, and in fact tends to increase the rate at which you acquire later characters.
Also, although the first few grades in the grade list present easier characters, they are, nonetheless, very common characters. So it's not like working through them will be a waste of time. Besides - how ridiculous is it when you can read 利益 and not 犬?
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I like Heisig's method in Remembering the Kanji (i.e., using the meanings of the character elements to create a visual memory in the mind, rather than just trying to memorize random strokes through brute force). The problem I have, though, is that he often invents his own meanings for elements that already have their own, perfectly appropriate meanings. It seems like an extra, unnecessary step to learn his meanings for the characters and then learn the actual characters.
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Finally, I just wanted to point out that the kanji have also been arranged into frequency lists. So, for those of you who just prefer to learn more common characters first (the 'study as you need them' camp), those frequency lists would give you a good indication of which ones you need.