You can also use it for information that is likely not going to change. You may blog about nutrition, for example, and healthy eating, and have static pages on each of the vitamins and what foods contain them, for example.
I prefer using pages for much of my "longer" content because in the theme I have, I can set each page template individually and choose whether or not to have the sidebars display on the page. For almost all of my pages, I've chosen not to have the sidebars appear -- there is a widget area in the footer, though, in which I have navigation widgets, and of course, there's the menu in the header.
Some people advise against having very many static pages, but I find that my static pages do get indexed by the search engines, and I also find that on almost any day of the week, there are more pages hit than posts hit on my blog, if I don't include the "homepage" hits. It really depends what you're using the static pages for and whether the content is well-organized and easy to find from the homepage of your blog. For people who visit my blog, having pages is the way to go for their use.