WordPress’s Featured Image function can be a powerful styling tool for your site that allows you to upload a single image, just one time, and have it used on your site in several places. In fact, the featured image can even show up in areas you didn’t even know existed–for example in another format of your site (maybe on a mobile device that automatically uses it).
It’s a good habit to get in and one that costs you little time for a big punch. It can make the difference between a simple text-heavy site and a more colorful, vibrant and compelling “designed” site. Check out the WordPress Screencast on the Featured Image over at WordPress U.