I see paper trading as beneficial to learn how the software works, and to see charts develop in real time with lvl 2 and T&S tape. But i definitely agree with what I think is your main point. No matter what people say, PT simply does not evoke the emotional response. This, to me, is one of the biggest parts of trading.

I agree paper trading lacks real life drama but don't agree it is without benefit. I see it as a stepping stone. As to the gurus well their voices/lessons in my head have kept me from making really stupid mistakes so many times. I'm thankful for the gurus.

I tried paper trading using other platforms like TOS, but the problem was the data wasn't in real time. However, I used Stocks To Trade's paper trading platform for about a month, and it worked wonders for me. The data is real time and it helped me to master reading charts, order entry, Level 2, T&S, etc. It's very much like real trading (minus your money). I would highly recommend it even for just one month.

@SnowDog as long as you don't cheat and look ahead a 20 min delay shouldn't make any difference...