I'll take part in black friday sales and I do think they're worth it, but I'll only do it online. I won't go to the stores on those days as it's just too hectic. It's nowhere near as bad here as it is in the US but it can be bad enough here too. Even on normal days in some places I've been to people end up pushed and shoved all over the place, which is why I prefer online shopping on the whole anyway if it's for things I buy regularly. I'd say the savings are definitely worth it though. Even if you don't get as much off online as you might in the stores I think it's still worth saving some money.
I think it depends on where you live. I have friends in smaller cities who enjoy the Black Friday sales because the people are polite and the lines aren't nearly as long as they are here. I haven't been to an in-person Black Friday sale in several years, but when I did, I happened to have insomnia, and decided on a whim to go just to one store in particular. The lines were pretty long, but everyone was nice enough, and no one pushed their way through, or grabbed what others wanted. I think it might be o.k. to camp out the night before, as long as the temperatures weren't frigid, but there are other things I'd prefer to do on Thanksgiving night, and I certainly wouldn't camp outside a store for multiple nights. Also, it seems that manufacturers are now creating models of products specifically geared toward Black Friday, that have the same name, but sometimes don't have the advanced features of other models. When people hear the names, they jump to buy them, only later realizing they're not quite as good as some of the other models, so it's important to be familiar with the products you plan to purchase. Be especially mindful of features that are important to you, and what those items sell for, otherwise you could grab the wrong item in the rush to purchase on Black Friday.