I think the UML is useful thought I think the 2.0 spec has made what was once a clear specification somewhat bloated and cumbersome. I do agree with the edition of timing diagrams etc since they filled a void...
Learning to use the UML effectively takes a bit of practice. The most important point is to communicate clearly, model when needed and model as a team. Whiteboards are the best tool that I've found. I have not seen any "digital whiteboard software" that has managed to capture the utility of an actual whiteboard.
That being said I do like the following UML tools:
Violet - If it were any more simple it would be a piece of paper
Altova UModel - Good tool for Java and C# Modeling
MagicDraw - My favorite commercial tool for Modeling
Poseidon - Decent tool with good bang for the buck
- StarUML - Best open source modeling tool
