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You cannot know what your fellow passenger is carrying. This is the principle of opportunity cost. In order to get the increased security, each passenger must be willing to pay a nominal cost, both in time and money.
The last question: "What do I get out it?" can be answered quite simply. Peace of mind...
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Peace of mind. The airline industry is doing all they can to protect their passengers. The more creative the terrorists become, the harder the airlines must work to afford that protection and the higher the cost will be. The extra money and the extra time it takes to get there is simply the tradeoff one must give for that peace of mind...
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