i imagine a lot has to do with your personality - if you are someone who likes free thinking anarchy, then not so important. But if you needs rules and pre-considered ideas the impotance increases.
Importance of opening-theory today
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Opening theory is for the feeble, mental weaklings.
Fezzik, it seems that without intense study of openings one can`t become an IM in 21st century. I also noticed how old people of today, who took IM title in somewere 1970`s, today are equal to weak FMs. And that is not due to age but due to modern opening-theory that "modern" players are armed with.
You are an expert in openings. Take a look at my other thread "Semi-Slav and sidelines".
It is my personal belief that the higher your rating the more important openings become, conversely, the lower the rating the less important.
How important is a proper study of one`s opening repertuar(opening-theory)? What max fide rating can one archieve in the 21st century without a proper study?