Hextech Crafting and New Players
I find myself to really be enjoying Hextech Crafting. I am not exactly a new player, but there are still a ton of champions I don't have, and even more skins, icons, and ward skins that I don't have. Anyway lets get to the point. Is it worth the money to get hextech stuff over buying things individually, and that really depends. As a player who has practically everything unlocked no it probably isn't worth the money to purchase Hextech stuff. So for veteran players who have a ton of things unlocked it probably isn't worth it. However, for new players I would say that it is much more worthwhile to buy Hextech stuff over individual items.
The rerasoning is simple. With hextech stuff you are more likely to get things you don't have at a much cheaper cost (also keep on mind you can earn hextech stuff for free). You can get things much cheaper because it is possible to get these things for free from in game perfomance, and because already unlocked things can be broken down into currency to get things you don't have. Currently I have spent $20 on hextech stuff, this combined with the free stuff I have earned in game (I've opened about 3 chests I've earned in game with 3 keys I've earned in game) as well as the free key and chest from riot, and I've got about $30 worth of stuff from the chests. So I've saved about $10. I have only unlocked a ward skin, and skin at this time so I haven't yet made my profit, but I am currently able to unlock 2 champions and another ward skin.
This reasoning is not without it's flaws. For extremely new players they might find themselves not having the currency to unlock new things because everything is new so they have nothing to break down. This can be kind of resolved by waiting for a champion you could unlock to come on free week. Play them and find out if you like them. If you don't like them break it down (you can always get it again later). Eventaully you will get to a point where you are getting enough duplicates to break down in essence and enough new stuff to spend the essence on. Hypothetically this is a very good way to save money, if it weren't for the other very obvious flaw that the entire system resides on. Hextech is entirely luck based. This means you could get 5 heimerdinger unlocks in a row. While this would be great to get essence odds are you are going to lose money in this case (assuming you bought the hextech stuff). Now there is no way to gurantee anything luck based. There is not control over it however, it is unlikely that for new and newer players this will not happen, and odds are you would still save money (ONCE AGAIN IT'S NOT GURANTEED).
FOR NEW PLAYERS I RECOMMEND HEXTECH OVER PURCHASING INDIVIDUAL ITEMS.