Ask most people what Illustrator is used for and a likely response will be "for making logos". While I have my own issues with that kind of reply (some people think AI is ONLY good for logos), I certainly do find myself creating logos all of the time. Like just a few minutes ago actually.
Having started my career as a typesetter, I'm pretty confident in my ability to spot typefaces and have committed most styles to memory. However, when setting a word of type and wanting to quickly see what that word looks like when set in a variety of different faces, I find myself creating tens of copies of my text and then going through the process of changing the typefaces for them all. A tedious process indeed.
Photoshop has this wonderful feature where if you set some type and then place your cursor in the Font field in the Tool Options bar, you can simply press the up and down arrows to switch typefaces. In this manner, I can simply tap tap tap tap with the arrow keys to preview my text in a variety of different font faces. It's wonderful. I wish I could do this in Illustrator.
Now I've found a new use for Photoshop -- finding a typeface for my logo -- then I copy and paste it into AI and finalize it :)