So if I want to erase one word to write another, instead of ctrl+delete or ctrl+backspace, I need to switch to visual model, delete the word, switch to insert mode, and type it?
Nope, you go to the word, do 'cw' (change word). That deletes the word under your cursor and automatically puts you in insert mode. Then you write your new word. I love it.
The power of the vi-family is that this generalizes consistently. Want to replace everything from here to the next comma? 'ct,TYPE STUFF HERE' I'm not a very accurate mouser, so with a GUI editor without sufficient vi-ness, that means I need to use the mouse to drag a selection, make sure I don't also grab the tiny comma, then start typing. So annoying.
Visual mode is way more practical because you don't always need to edit a word, you might need to edit a few words and/or things that are not words. I always use visual mode to see clearly what I'm changing.