This post makes some good points about whether or not spending time working on rails templates for the use of your team will pay off. But if you're just using a template that someone else created -- RailsApps, by Daniel Kehoe, for example -- then there's no time lost to you or your team.
I also think that a great use case for templates is to try out new gems before deciding on whether or not you'd like to use them.
I also think that a great use case for templates is to try out new gems before deciding on whether or not you'd like to use them.