Benefits of meditation

I have met lots of folks who meditate, as a matter of fact I hosted a serious meditation group for over a year.  It was interesting that very few people showed up consistently to the group and even fewer people admitted to engaging in the daily prescribed meditation practice.  Upon further inquiry I discovered some people didn't really know why they were meditating....  Is meditation just a fad?
People are like electricity and tend to take the path of least resistance.  Why sit in meditation if there is no perceived value?  Why engage if there is no benefit?   Why "waste" time when there is so much to "do"?  Why not?
Many of the benefits of meditation may not appear tangible at first which is why meditation is considered a practice.  Like any goal or objective the benefits of meditation get better the more you practice.