i worked my @ss off on my thesis. did it get me into my reaches? anyone's guess. but i have a 120-page bound manuscript at home that I WROTE, and there are few things of which i'm prouder. i'd say treat it like running a marathon or climbing a mountain-- do it because you can, it's really good for you, and it's an accomplishment you'll always have.on a related note, you will learn a lot about yourself-- how you work best, your strengths & weaknesses, whether you'd ever want to be an academic, etc. all of that ill help in LS.
Was this for grad or undergrad?