Why are grandparents important?

I would like to hear from you as to why you think it is important for children to have a relationship with their grandparents.
For me it is vital, we are a part of the child's identity, their inheritance, a part of the building blocks of their lives.
Hopefully we have wisdom to pass on, having been parents ourselves.
As parents you are so busy, with working, bringing up a family and all the pressures that go hand in hand in modern society. Grandparents can give their undivided attention and time to the grandchildren, we are there to give support as and when required.
So why do you think we are important.
Just to say, if you want to comment on the blog but are wary as it is a public blog, use a different name, different location, never use your grandchildren's names or just comment anonymously.
Would love to hear from parents as well as to why you think we are an important part of your children's lives.
Jane