If you want to be good at anything you need to master the basics. Being exception at the basics will give you a concrete foundation to build on and allow you to reach your full potential. The more basic technique you can do the better.By neglecting your basics you are neglecting your martial art. The highest form of mental and physical training is trying to perfect your basic technique and iron out your faults.
If you don't practise bad habits creep in and this is why it's vital that Instructors continue their training as well as teaching.
Remember if you want to be an excellent martial artist attention to detail is the key and basics are your starting and finishing point.