I took the Mounties basic course and dropped out of the intermediate course.
I think the basic course provides a good general background for mountaineering. The intermediate course is only good if you want to stay in the Mounties system.
If you want to be a hard core Mounty climber then take the class.
If you want to be a competent unaffiliated climber then: climb a bunch, take short seminars, consider hiring a guide for a day or two.
The only real bitch I have about the Mounties system is the use of intermediate students(last years basic students) as instructors.