It's always struck me that studying conducting is a very bizarre thing for a young musician to do, on the whole (out-of-sight geniuses excepted - Mozart/Korngold sort of level). The number one requirement for a good conductor is a wealth of musical experience, which is the number one thing young musicians, almot by definition, lack. Probably the number two requirement is excellent personnel-management skills, which is another thing you don't expect to find in the young. Stick technique comes a long way down the list.
I don't conduct, but I spend long hours working with conductors when wearing my opera or choral repetiteur hat, so I've had plenty of opportunity to observe them at close quarters.
Studying scores and the ranges and capabilities of instruments is, however, a very useful thing for any musician to do, I'm sure. Indeed, simply listening to lots of recordings is a very good thing to do too!