Trading has become much more of a competitive arena and rates have dropped substantially. Sometimes the higher rates can yield a much better return, costing dramatically less money in the end. If you have a broker who is going to monitor your positions, give you a phone call when particular news is coming out, making you aware of how your positions are going to be effected by this news, and continue watching the trades for you, there is definitely value there. If the broker has the ability to hand GTC's in the combo positions, there is certainly benefit to that as well. If he can also fill within the bid-ask spread, you profit directly.
News can be of great value.
News services are available, but some are no better than the information that you can access off of the Internet. Others, like Bloomberg, are very valuable in searching for company information. Those services are expensive to the brokers and they have to pass the cost on to you. If you are depending on news information to make your trading decisions, it certainly does carry with it some value. Permission must be obtained from 1010WS for non-profit, electronic redistribution.