If it actually gets graded and has a part in their grade beyond just a checkbox stating they turned it in then it's worthwhile. But, in general, I'm not a fan of homework because so many teachers don't even grade it. Schools need to make better time of students' time in the classroom and less emphasis on homework done outside of the classroom. Studying is different than homework in my opinion, so I don't equate the two. School went from a place of learning to a place of learning how to take a test. I think the guy from Mythbusters said it best (and I'm paraphrasing), bring back band and shop class so kids can start learning rather than just learning how to take a test.
my oldest son is in preschool and he gets homework periodically. it is all fun for him to do of course.