While not 'useful' in the age of GPS and the magenta line, the PTP and Holding are fundamentals of flying radio instruments. Much like learning a language, you don't start speaking and writing at the doctoral level and then go back and learn how to conjugate verbs. The PTP is the execution piece of understanding how to read an HSI/RMI, envision where you are oriented (or is it orientated for my green brothers?), and WAG a course to a new point in space relative to the station while making adjustments along the way.
Am I doing that in a 737? No. Could I if I needed to? Yep.
Same with holding. It is a tough concept to wrap your head around in the early stages, which is primarily why we put so much emphasis on it. You get the reps at it that you need in primary so that it becomes second nature early on. Emphasizing the proper entry is a way to judge if the student actually understands where they are in relation to the fix and how they plan to enter the hold. In reality, do I give a shit as long as I end up on the protected side? Nope. And i don't know why timing wasn't emphasized in the hold for you; it should have been. I don't like that the procedures are written to require two full turns before you start working to correct the timing, but it's definitely an emphasized point in holding to make adjustments to hit the fix on time.
In 30 years when every ground based navaid is gone, sure, we can do away with these kind of procedures. 2 minutes later, when GPS gets turned off because we forgot to pay the bill or pissed off the chinese, we can just go back to using compasses and watches for everything.