This chart from SEOBook shows just how important it is to be #1.

Overall Percent of Clicks

  1. 42.13%
  2. 11.90%
  3. 8.50%
  4. 6.06%
  5. 4.92%
  6. 4.05%
  7. 3.41%
  8. 3.01%
  9. 2.85%
  10. 2.99%

1st page totals: 89.82%, 4,425,226 clicks
2nd page totals: 10.18%, 501,397 click

Moving from #2 to #1 results in a more than threefold increase in traffic.