gekido,
sorry if I'm not precise with my wording (I would have classified GC's implementation as "path following", but that may be a misnomer).
Even in a FPS (i.e. not an open-world navigation), this type of navigation would be very, very helpful ... that way a Bot(NPC) could react to the fact that the mean and nasty player has blocked a passage way by blowing it up (after all, what are physics for

) and the bot could find an alternative way quickly - key here is the reaction to changes in the environment when waypoints that were previously reachable are no longer viable waypoints.
In any event, I'm glad to see that you guys have discussed it and already decided that it is worthwhile for some future version. Maybe my ramblings about this helps move it up on the list of priorities

Cheers,
Andreas