Though this discussion has long been inactive, I have a couple of -to my mind important- points to add.
Buggy code is one thing. Left to drift downstream, design mistakes can get very bloated and ugly indeed. UML, however, is self-validating. By that I mean that in allowing you to explore your models in multiple, mathematically closed and mutually-checking dimensions, it engenders robust design.
UML has another important aspect: it "talks" directly to our strongest capability, that of visualisation. Had, for example, ITIL V3 (at heart simple enough) been communicated in the form of UML diagrams, it could have been published on a few dozen A3 foldouts. Instead, it came out in several tomes of truly biblical proportions, spawning an entire industry, breathtaking costs and widespread catatonic shock.