Personally I'm undecided. OK, so it's a little dull to be scrolling through the names of the localization teams, QA testers and production babies but I think it's these very things that prove that the credits aren't really for us. They're there so that the people who spent such a long time making that game can be proud. When a friend or family member plays the game in their presence they can point out their name with a smile and say "That's me! That's my name!" I'm sure that effect wears off after a few titles but it's still nice to see your name on something you were a part of. Besides this, I also like to see who was responsible for certain aspects of the game. If the game had great art I like to see who the lead artist was, if it had great voice acting I like to see who performed it. Many aren't into doing that but for me it's a silent little nod of thanks to that individual or team for making the experience I just finished a great one.
On the other hand, it is boring as hell to sit through a black screen with a bunch of names on it while a song you don't necessarily like plays in the background and for me, the CoD4 rap was excruciating in a non-funny kinda way. In the Metal Gear titles I tended to get quite annoyed as I knew there was a short scene coming after the credits but I couldn't skip the credits to watch it and they were so damn long! I often take this opportunity to use the bathroom, grab a snack or drink or do something else while I'm waiting but there have been occasions where I've returned to find the scene already underway or plain finished. That's frustrating as hell when you've spent so many hours completing the game and miss out on it, whether it's important or not.
It's really a question of taste and personal opinion in the end but I for one would like to see animations or mini-games during credits for games that have something to iffer after they've run or simply the ability to skip them and view them any time if I choose to.
Well that's my two cents...