If you rely on flux hogs like Heavy Blaster, Mjolnir, Gauss, or just combined flux load of too many guns... or if you simply take a lot of hard flux from enemy fire due to range disadvantage, being able to vent all flux away in a second or two is very nice, at least for my flagship.
Since 0.8, the only way to get EMP resistance is Resistant Flux Conduits. Before 0.8, stronger skills combined with RFC could mostly immunize ships from EMP. Now, the only way to get EMP resistance is that hullmod, and it really helps if your ship cannot defend against EMP very well.
EMP Resistance plus faster venting makes that hullmod a no-brainer for me, provided my ship has near max vents and can afford it. Not every ship can fit it in.
As for Reinforced Bulkheads, most of my ships are clunkers and whatever I can buy or recover until very late after I effectively won the game. By the time I can get the blueprints I want and a colony that can produce them, I am already strong enough to destroy anything or raid the core worlds as much as I want.
Before 0.9, any time I lost a ship, I reloaded because restoration is expensive if I recovered the ship. Also, in 0.8, good weapons were rarer than ships, and it was much faster for me to reload and try again instead of spending hours grinding for more light needlers or other rare weapon. With Reinforced Bulkheads or other guaranteed ship recovery today, I rarely reload the game. I can lose most of my fleet, but as long as I win the battle and recover my ships, I do not care too much and proceed with the game.