Totally agreed- a banked track helps, but a 14:40 runner is a 14:40 runner, its not like banked tracks are magical. I ran 14:46 on BU's track, and I ran a 14:48 on a flat 200m track during the same month. The 14:48 was harder, but because I led 4800m of it, not because the track was flat. Now, the faster races definitely have an advantage- I ran a split for the 1600 leg of the DMR at BU that I doubt I could come within 3 seconds of on a flat track.
But advantage or no, running at the banked tracks generally means good competition and a good facility. It doesn't make you faster, but it certainly helps you run up to your potential.