I have thought a bit how to respond to this. There are times when using a chronograph isn't needed for load development.
Like when you have a well-known load that you know is within safe pressures, and you are shooting at the same distance that you are competing or at the max distance that you'll be hunting. For example, when I am fine tuning a load the day before the match, shooting at the same gun range and same distance as the match, I don't use a chrono. However, I know that load very well and have spent a lot of time working it up at shorter range where each shot was chronoed.
There are times when you should use a chrono. If you have to find your load at shorter range and want to shoot at longer range, a chrono is critical. You can shoot small groups at close range with ES of 50-60 fps, and there is very little chance that load will group well at longer ranges.
For most load development, a chronograph is the smart way to go. By recording velocity of every shot we, like
@Forum Boss posted, can validate our loading practices. We can save components by eliminating loads that have a high ES instead of being sucked in by good short range groups. Also, a chronograph is another tool for checking pressure. Generally, if we get a significantly higher velocity than predicted, it's not that we have a "fast barrel", most likely we have reached high pressures. Often these pressures won't show on the primer or case until they are too high.
I am not sure how well a Magnetospeed works for this. Hanging something off the barrel can affect harmonics, so I am not sure the data a Magnetospeed provides is as valid as data from a Lab Radar or Oehler.