Yes, you'll download a zipped folder that includes all of your images (you can also download one by one). I think that maybe you can still opt to purchase a CD.
The point to uploading your own photos would be if you wanted to add their Disney logos or order a photobook or photo souvenir from Photopass that also included your own photos. Also, if you are sharing Memory Maker with extended friends and family, you could upload your own photos as a way to share them with everyone.