Yes, basically. Having your computer actually at risk of physical attack is very unlikely for most people (given that most people aren't worth the bother), but if you are in a situation where an attacker could gain physical access to your computer, and that physical access could lead to significant loss (whether of property, money or valuable information) then the hassle involved in full disk encryption is minimal compared to the potential for loss.
By this do you mean something along the lines of "if you have something worth protecting, do it the right way / all the way"? Interesting phrase.