I do some ship design for the creativity, but nothing particularly useful. I do use the equip function a lot to come up with ships I like, especially different versions of constructors and colonizers. Hand equipped designs are almost always better than automatic designs, and just throwing equipment modules on with a double click is easy. If you aren't zooming in or watching battles, you don't care what they look like, anyway.
I do watch battles, but I am weird that way. I enjoy the little movie and I do learn about equipping a bit and I get a couple moments for multitasking. Other that that, you are not missing out on any gameplay mechanics.
I make excuses to zoom in now and then and look at the pretty pictures, but zoomed out really works better for me and large maps. On the dev streams, all Stardockians seem to use a close in view all the time. I have no idea how you can play that way.
I would be lost all the time.