I used to wear one for years. I actually felt it hurt me in the long run in that, as I added weight to my lifts, I was isolating my back from getting stronger. Over time I could support heavier loads but started to experience lower back pain. I threw out the belt and started concentrating on dead lifts and lower back exercises and have not had problems since. Unless you have a problem maintaining good form, get rid of the belt and force your lower back and adominal muscles to kick in the way they should.
I wear gloves though!