Good question. No, it isn't worth the $60 fee for a roster update and some new gimmicky feature that you likely won't use. In my case, I've been guilty of getting caught up in the hype and buying Madden every year. The other sports games, though, I've done a better job of moving to an every other year (or so) purchase -- NBA 2K8 to NBA 2K10, NHL 2K7 to NHL 09, NCAA 09 to NCAA 11, and MLB 2K7 to MLB 10 The Show. College Hoops would probably be the only game that I would continue buying yearly installments of, if they decide to make it again.
I personally thought Madden 09 was the first good "next gen" version of the game and then I thought Madden 10 brought enough improvements to the table (mainly, online franchise, speed of game setting, better graphics) to justify the cost. Madden 11 has nothing useful from what I can tell and the area they could have improved to get my money, online franchise, will have no tangible improvements this year. I say it every year, but this year, I think I will skip Madden -- at least until it drops to a reasonable price. And this is coming from a person that since 1997, has only missed Madden 98 and Madden 2001.
By the way, if you guys are interested in joining our AT NCAA 11 online league, see my sig.