The description tag is still used by many search engines, but often in unpredictable ways. Human edited search directories may use your description if it is well crafted and if it isn't they may write a new description which might not say what you want it to say. Google is reputed to not use the description, but we've seen instances where Google does use the description to make snippets. You can't afford to ignore your description.
To ensure that your description is used, do not use any hype or promotional language such as 'best website' or 'number one' etc. Try to keep your description neutral yet descriptive, and under 200 characters.
An example description for a website selling cuddly toys might be, "Chicago toy store featuring award winning teddy bears and cuddly animals. Educational toys also stocked."