It's great if you happen to be traveling and the country you are in recognises the day. Unfortunately, in most foreigners eyes it's seen as a day to celebrate alcohol and it can be accused of enforcing the drunken Irish stereotype. It's kind of similar to Halloween as a holiday I guess, in that it's original purpose of being has been replaced by more entertaining pursuits, dressing up, socialising, drinking etc. Then again, anyone who still believes that St Patrick chased all of the snakes out of Ireland ought to stay away from the booze.
All that being said I guess that I'm proud that our little country has a day recognised as a global event, whether it be for the right reasons or not.
On a side note, I always find it funny when I see news clips of Americans celebrating the day, yet if you were to hand them a map they couldn't point the country out. Maybe if there was a leprechaun standing beside it