Paddles on a traditional automatic are a waste of time. It's no different than moving the column shifter in a pickup truck. For it to be worthwhile it needs to be a DSG trans or something similar.
That said, my camaro has paddles, they are a waste of time, but it perfectly auto rev matches when you downshift with them. Sounds pretty sweet. The C7 vettes are going to use the same tech in competition mode with the manual. You downshift and it rev matches for you perfectly.