I certainly think so. What I find, is that when one studies music, they develop a certain type of thinking that can be applied to real life- How to study for a math test at school, how to communicate with unspoken languages (eg. body language), and stimulates innovative thinking.
My school grades went up dramatically when I became interested in Music. This is enough evidence for me. Also, do you ever see any rednecks, drug dealers, gangmembers, or underachievers studying music? I have yet to see one..
donjuan