Levelling a lathe won t do anything for wear but wear will change your centre height and introduce tapers.
An un-level lathe will produce tapers, even if it is brand new with zero wear. THAT is why we level the lathe.
I think it depends on the work you need to do. If you're making parts for a tractor with tolerances in the hundredths then a bit of taper is fine. On the other hand, if you're making a precision shaft to go in a precision bore then even a little bit of taper is not going to work. I am not anal about most things but I am anal about leveling and aligning my lathe because it matters to me. As for the OP, I think it is important to know how to level and align a lathe to begin with. How often or to what degree he takes it from there is up to him but the process should certainly be learned.