I think someone who can run 70mpw with 10-15 miles at MP and some time spent at faster than MP will perform better than someone that runs 50mpw at MP only.
If you have to start cutting out other workouts such as:
lactate threshold runs to make a faster MP more comfortable,
more mileage to boost glycogen stores, increase muscular endurance, and burn fat more efficiently
in order to run MP all the time, then you are missing out on some more efficient ways to improve physiologically speaking. If you can run all of your easy runs at MP, and still increase mileage, and still hit tempo/interval workouts without getting burnt out or injured, your marathon pace goal may be too conservative.
That being said, I think MP running during marathon training is very important, and should be done at least for some miles every week...not three times a cycle as Smoove recommended. It is the most efficient way to run aerobically (since it's considered the fastest you can run and still be aerobic), doing it can make it feel more comfortable, and having a good feel for your race pace will help you pace yourself better on race day which is very important for a race that's hard to judge solely by feel unless you've run a bunch of them.
It's just too slow to reap every training benefit but too harsh to fill all the volume needed to train for a marathon.