Is The Study of Grammar Going Extinct?

Why does grammar even matter these days?  We text and email giving little thought to punctuation, spelling, and organization, so is the study of grammar still relevant to writing and speaking?

I offer you a definitive YES!  Grammar has to be a vital part of our language and the study of language because it gives us a common basis or a set of terminology that allows us to talk about language.

Learning a system of grammar helps facilitate a discussion the dynamics of our ever-changing language. People get frustrated with grammar because it sounds like a rigid set of rules, but it isn't.  Grammar is more about giving yourself options as a writer and a speaker (or tweeter, texter, etc..).

As toddlers, we begin to learn how to talk but  to be able to talk about how to build effective sentences that create meaning for both writer and reader - that is understanding the power of grammar.

So, what do you think? Are we covering a "soon-to-be" dinosaur of a topic this semester or is the study of grammar still worth undertaking?