I was hyped up for Draw Muhammad day last year, but was too lazy to draw anything. Now that I look back, I'm glad I didn't. It just feels stupid, like burning the Quran.
Hmmm... I'm on the fence, I mean burning the Qur'an is literally an inflammatory act, but take for instance that psycho woman on youtube, can't remember name, but she had bookmarked the Qur'an with bacon and was reading out random verse before ripping out the pages and burning them.
Now, for me, despite that act being ridiculously OTT, there was at least an element of intellectual argument there as she was at least reading the verses. I am pretty sure the whole bacon+burning thing counteracted any benefit the video could have had, but it depends what the motive is. If we want to make Muslims stop and think, then drawing Muhammad wont do very much. If we want to challenge the fear-mongering against artists' freedom of expression then I think it is a very useful cause.