Travel is travel. It doesn't matter why you do it. Going across the street or across the country is the same thing. You are playing more ball to improve your kids skills.
It doesn't matter if you are doing it to get a better LL AS team, get ready for HS, or if you think your kid will be in MLB some day. Playing outside of rec is for improving your child to the best of his abilities. How far he will go is determined by a couple of hundred different factors.
I personally think that learning skills early and correctly is a great advantage, others think it doesn't matter. My son will be competing against other players who have had this advantage. The best thing is that it is fun and we both love it. I wouldn't trade the memories and experiences for anything.
Another aspect of travel is the fact that kids can't just go to the park or school or street and play if they want to do it. Try finding 8 other families of 10 year olds that will let their kids disappear for a day of ball. It isn't going to happen anymore. If your kid wants to play, travel is the only way it is going to happen.