you need it - no. In fact, it has more disadvantages than advantages. More moving parts for things to go wrong. If the valve fails, all the oil will drain out and you'll have a bad day. In addition, not all the oil comes out when changing the oil, since the drain valve is located above the recess in the oil tank. The valve can also interfere if you're lifting a larger car in the middle and using a jacked up 4x4. There is also no magnet on the valve like a factory screw to catch the metal flakes, so if there is a problem with your engine. But at least the oil change is faster and your hands stay clean.
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