They're rubbish. They are an artificial horse race on an abnormal track with strange rules, and the only reason anyone pays attention to them is that the media lurves reporting (breathlessley) on horse races, especially the first one.
The only people who the race actually had a concrete impact on were Martin O'Malley and Mike Huckabee, who are apparently dropping out of their respective party's races.
But for Clinton v Sanders? Or Trump v Cruz (v Rubio (v anyone else))? Nod your head, raise your fist, chant about equally-anomalous New Hampshire, and bide your time. Winner or loser or runner-up, anyone who knows anything knows tonight's results should mean very little.
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Caucuses seem really dumb anyway. What if a candidate won because it was hard for people to commit? Are they truly the parties candidate?
+Jon Weber I prefer primary voting to caucuses, but they do have a rural "town hall meeting" feel to them that's interesting.
I actually attended the local Democratic Caucuses in 2008 here in suburban Colorado. Kind of fun, though not something I plan on doing this time around.