I'm 24 now, and did IPT back in year 11 and year 12. The thing which I don't think people realise is that some of the skills & concepts you learn in IPT are surprisingly useful in the real world.
1. Reading Flowcharts
On a regular basis, I meet with clients who have had breakdowns in their system processes somewhere along the way (e.g. between a product system and a payments system) which has resulted in breaks or errors being spat out onto a reconciliation. When they explain to me where the breaks are, they often draw diagrams using flowcharts showing information flows and which systems reconcile or are checked against others, etc... without being able to understand these diagrams, I'd have absolutely NFI what's going on in these meetings. I also wouldn't be able to efficiently or effectively identify components of work which my team can perform or how we can gain comfort over how the system breakdowns don't lead to or indicate bigger issues.
I don't work in IT- I work in Commerce. They don't teach this in uni (well, at least not at UNSW in any of my accounting/finance subjects) and they don't teach it in CA either. Noone actually teaches you this in practice either- you kindof are expected to pick it up somehow especially since it's not a typical thing which accountants do.
2. Scenario Analysis and Application
Being able to relate your own knowledge and understanding of systems, and how it can be implemented into another organisation's situation to remedy their problems is a huge benefit. Better yet, if you can explain where gaps are or how they could be rectified, you are able to add value. This skill of applying one system or theory to another environment is something which isn't taught anywhere but it's a huge part of my work as an auditor.
3. Implementation Strategies
Again, this is never explicitly taught anywhere but you're magically expected to understand the different (basic) theories of implementation (remember pilot, phased, etc..?)- and how it happens in the real world. Even in my field as an auditor, I need to understand this because this then links in with accounting standards on how to amortise large projects in phases based on sections being substantially complete and ready for use.
Now, I'm not saying IPT is the only way to learn them, but for me it's how I learnt them and I'm actually very grateful I took this subject seriously because it's my point of differentiation from my peers. Why does that matter? It means I can understand things a lot faster than others and can handle difficult and unexpected client situations/meetings without having to resort to "oh this isn't my area so I'll need to find someone who understands flowcharts/systems/etc".
EDIT: I realise my post is a little late (i.e. 2 days after the exam) but I hope that maybe future students (and even those who just did it) don't just throw away everything they've learnt because IPT is actually a surprisingly decent subject along with business studies. These two subjects have actually proven to be the most useful in the 'real world'. The subjects which I thought would be useful (e.g. economics) turned out to be nothing more than for interests sake- didn't help in uni or in work.