Is learning XAML a waste of time?

I’ve been spending most of my spare time playing around with WPF, which usually means jumping in and writing XAML code in a text editor like visual studio 2005. Aside from mobiform’s aurora product which I really should have a good look at some time soon (and the option to export static XAML from illustrator and acrylic) there aren’t any XAML design tools out there (Microsoft’s two tools code-named sparkle and cider are yet to be released). I’m interested in the XAML syntax and don’t find the whole experience too bad, but I often can’t help but wonder if I’m wasting my own time learning XAML or not. Its entirely possible that when these tools do debut they’ll instantly make redundant all my XAML knowledge. At the same time most web developers know how far you get with tools for creating HTML, where using the designer sparingly if at all is often the best maxim. To counter my own argument though - XAML and WPF have been designed up-front for toolability, while HTML wasn’t really designed up front at all. Will looking at the XAML code be the moral equivalent of looking at the WordML that microsoft word produces (possible, rarely done and mostly pointless), or for more “advanced scenarios“ will eschewing the designer and tweaking the XAML be the way to go? I guess time will tell how much of it I wasted learning XAML syntax.