As far as I recall the call charges for BBC shows are relatively low. I doubt it does much more than cover the cost of the systems (dodgy though they may be).
As for whether the TV Licence is good value for money... I've seen a different side of this to most people. From the outside the BBC seems like good value given the quality of programmes it produces and the breadth of TV and Radio coverage.
However, they are a grotesquely inefficient organisation and waste a fortune. A leaner, more efficient BBC would be preferable.
I would also take exception with the comment posted that the news is impartial. Granted it's not as bad as US news coverage, but ITV does a perfectly good job of providing non-partisan coverage and they are a commercial station.