For me there is, otherwise I wouldn't apply for them and the pink ID card is the main reason I do this application after having lived here for 20 years without needing it before.
The yellow house book saves me 500baht each time I need to have my address verified and is also the step stone to the pink ID card I must have together with the house book for getting a Bangkok Airways Koh Samui Residence Card which saves me 6000baht on every Samui-Bangkok return trip.