Not being one who is pursuing an MBA, I can only take rough stabs at where it might be helpful based on coworkers who are currently looking into that option. My suspicion is that it might be very useful if you're hoping to eventually progress to more of a management position than a development one, such as the role of a CIO or the like - a position where you would be using your technical skills more as a means to help with your company's business process.
Insofar as it would help with being a software developer... I don't know where that would actually help or hurt.
Theodore Jonathan Casser
SCJP/SCSNI/SCBCD/SCWCD/SCDJWS/SCMAD/SCEA/MCTS/MCPD... and so many more letters than you can shake a stick at!
If you plan on staying on the technical side of things and not moving anywhere near management, an MBA in the short term, probably won't do much for your career.
But you never know what your attitude will be or what your situation will bei in 10-15 years. If you get a company to pay some of the costs, it's always good if you have the time to add something extra to your knowledge base. Because while it may seem pointless now, that MBA in 10-15 years might be more useful than you ever imagined. You never know where your career will take you.
Mintzberg (one of the most influential thinkers in the business world): "Trying to teach management to someone who has never managed," he writes, "is like trying to teach psychology to someone who has never met another human being."