@polotek yeah, I'm doubtful that they add anything useful, and they definitely dilute the meaning of an estimate further.
A thing that also struck me is that you talk about estimating projects - that seems like a much larger unit of work than I ever had to estimate. Do those typically take on the order of weeks? Months? The projects I've worked on have typically lasted months or years.
@spoltier for what it's worth, I hate "story points" with a fiery passion.