Will the opening of the Morganza spillway ultimately be beneficial to the bayou?

Before all the levees and floodwalls were built, the Mississippi often flooded the area in question. Not to the extent it will be flooded this year, but it was nearly an annual event. The Mississippi delta was created by the sediments in the floodwaters that was deposited on its way into the gulf.

So will there be a silver lining to this event, or is it all bad for the land and residents that will be flooded out this year?

http://www.usgs.gov/newsroom/article.asp?ID=2801