It might be an insignificant trophy to clubs that are regularly winning things, but when you haven't won a thing in years anything is good. It would be a turning point, a sign of better things to come. Of course the players themselves would have to adopt that mentality as they could very well blow it if they become too complacent.
I suppose getting a spot into the CL is "better" than winning this cup but I think the club needs to start small again before aspiring to something bigger.
Cup win ---> back into Europa League ---> do well there, get used to European competition again and fight for CL spot in 2012/13.