Well I live in an outlying village and the one time I used my pass it was early evening so my £3-4 of subsidy went to the right place at least. Losing my pass wouldn't really be a great loss to me since I can drive and own a car plus I have a wife and 4 kids all of whom can drive and have access to cars. But it's still nice to have though, the one time I used it I was going for a drink and it meant I didn't have to get someone to run me.
I remember being told by a friend that his mother and her mate had decided to see once how far they could go on their pensioner bus passes and they had managed to get from Nottingham to Portsmouth in a day, they had to stop overnight and he had to drive down and collect them in the morning.