How important is HDMI?

I have purchased my LCD TV (HDMI equipped) and my revel speakers, in the process of creating my home theater. My question is just how important is HDMI? There seem to be some wonderful values on equipment form fellow members, that quite honestly I could not otherwise afford, but they all seem to lack HDMI. Would I be better off with less expensive equipment with HDMI 1.3 or should I consider some the higher end equipment that may be lacking HDMI? I realize this is somewhat a broad question, but your thoughts would be appreciated.