If at all possible, it would be benefical to attend a Cacrep program, as it provide a "quality assurance," in terms of one being assure that the counseling program they are in meets all the necessary standards to be certified as a counselor at the national level (NCC). In terms of state licensure, most programs that have accreditation, more often than not, meet the licensing requirements for their respective state, HOWEVER, it is also important to research what the licensure requirements are for the state you are planning to work in (as is the case with the other licensed fields). This way, you know whether the program you plan to attend will provide what it should, to allow you the ability to become licensed or 'license eligible.'
In terms of the level of importance, accreditation is currently on a voluntary basis for counseling programs, but as 49 out of 50 states currently have licensing laws, (and are continually re-examinging those laws to improve them) and the 50th state (California) works toward a licensure law, it may be the case that accreditation by cacrep will become the rule, and not the exception. All that said, if you choose to attend a non cacrep program, some considerations could be: 1) are you considering becoming a nationally certified counselor? If so, attending a cacrep program would provide eligibility to take the national counselor exam after completing your program, instead of fullfilling the 2yr post grad experience requirement. 2) it would provide a stamp of approval for potential clients that are 'saavy consumers,' and are looking for someone who meets the relevant standards of the profession. 3) generally speaking, attending an accredited program would help to promote the profesional standards of the counseling profession, just as SW and psychology both have firmly established their respective fields by way of encouraging their respective programs be accredited (which is a good thing in general).