Is computational materials science overrated?

Computational materials science is one of the fastest growing disciplines in materials science. With an ever-growing number of papers being published - there are journals devoted entirely to the subject and with the number of scientists involved in materials modeling increasing rapidly, the time is right to examine the impact computational materials science has had on the materials community. How one defines that impact depends on what questions are asked. One could examine what role computational modeling has played in the development of new materials or, perhaps more importantly, what breakthroughs in our fundamental understanding of materials behavior can be attributed to computational modeling. However, given the hyperbole that sometimes is associated with computational modeling, a more provocative way to phrase the question might be: "Is computational materials science overrated?"