If your priority is just to increase upper body and midsection strength, you'd get more bang for your buck by getting under a barbell two or three times a week and eating like an eating machine. But as halfpint says, climbing builds a variety of skills and targets the parts running doesn't reach, and it's fun and sociable.
It's not weightbearing enough to have any impact on bone density, but it's good for developing joint position sense and balance, which should make you less likely to fall.
I'd been thinking about it for over a year but it was the push I needed. Not that I have any desire to free solo El Capitan. Or, indeed, anything higher than a badger's kneecap
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