Slow speed drills and figure 8's for training!

I had the pleasure of riding some mini bikes this weekend to practice slow speed drills, figure 8's and tight circles. We use a small TTR at the California Superbike School sometimes as well to teach similar exercises. Besides body position, what other things do these kind of drills help you improve? How many of you incorporate this kind of training with your own racing/riding program? (screen shot from a video)