I think Video Games are good because they do promote critical thinking, problem solving, physics, and other mental functions that school these days are failing to stimulate. It also works on the visual centers of the brain, expanding the mind artistically.
However, Video Games do not promote other world skills especially socializing. Though MMOs are using programs like Vent and Mumble to allow real-time verbal communications, it does not replace the face-to-face contact and learning how to read faces and body languages which is important when making deals, persuasion, etc.
If you're a parent and worry about what you're kids are playing, do some research on the titles they're playing and remember just because they're beheading zombie pixels, doesn't mean they'll do such to real people and who knows? Maybe these zombie-beheading skills will pay off if the zombie apocalypse comes around.