This is a good point. I've been dealing almost exclusively with highly dynamic UIs, and that's almost certainly skewed my perception of IB's usefulness.
We built our designs on a modular approach where each element is contained in a tableview cell, so that part is done by code. The cells themselves make use of Auto Layout though.
While I absolutely hated AL at first (and the IB just plain sucks) I do find it very time-saving once it clicked.
