I'm a pretty inexperienced player. Probably a beginner by the standards of most of you. I played a Depositors' freeroll on Noble the other day, and played pretty much supertight, at least at the beginning. There were about 350 entrants, and I got to 39 before being knocked out. Interestingly, on my final table, there was still one sitout...So I've concluded that for most of the time, you can just wait for the maniacs to knock each other out (though one problem is that you'll be joined at the end by one or two of them with mega chip stacks,which gets hard to beat if you haven't had enough action because of playing tight).
I suppose I could have done as well, with a bit of luck, using the sitout button, but I wouldn't have learned much and I agree with bubbasbestbabe that you can learn something useful from any form of poker, even if it's only not to play it again!