I learned to dive with a manual inflation of the BC. Theoretically it does save a tiny bit of air. However, I strongly beleive that a power inflator makes the diver safer.. they can add a bunch of air in an emergency and do it fast. But more importantly, it take two hands to manually inflate,, one to hold the inflator and most people hold the second stage in the other... well I guesss I will hold the anchor line I am descending with my prehensile **** then? or the camera and or light or speargun..... manually inflating the BC is a pain if you are doing anything while diving.
I guess if your hands are free and you don't mind the distraction and the task loading and the activity doesn't bother you, then MAYBE it is worth the theoretical effort to do it manually. Also, unless you are doing a a lot of multi-level diving... You add air on descent and vent air here and there during the dive to compensate for air consumption weight loss.. but with a square profil.. you should not be adding much air in the BC..
I think it is wonderful to practice oral inflation and I would not hesitate to do most dives without a power inflator if something broke... but the device makes the diver safer, and able to be more attentive to their surroundings in my opinion.. defintely worth it.