For a warlock, first aid is VERY useful. Since for warlocks HP=mana (with LifeTap). Every bandage is like a Healthstone, and you can stack them.Fast source of essentially unlimited mana with short downtime. Can often prevent psychical breakdown on your party healer
Can use bandages on others too. And there is the unique "Triage' quest!
Also, bandages give you the healing during just 8 seconds when food up to 30 seconds. And as said, for eating you need to be out of combat. Out of any threat too usually.
P.S. Healing with bandages can be interrupted like casting.