would you be able to tell me some of the values that you see from the forms?
A form or kata offers the basics (we call those kihon) in a format that shows an actual application, which can be called bunkai (practical application). Along with the movement of the basic exercise, it teaches stance, balance, timing, distancing, speed, breathing, and body mechanics. Some of this can be learned by repetition of the exercise itself of course, but not as easily, in my opinion.
One of the ways in which we practice kata is with the use of a partner (uke) who provides the supposed attacks which provoke the movements of the kata. In other words, if a kata calls for a step forward with the left foot, left middle body block, and straight right punch, the uke will step and throw a right punch, then block the incoming punch on their left.
This answers the often-asked question of "what's it for" when a student is learning kata. They can easily see what it's for. There is an incoming attack. They step up, block, and counter.
After many repetitions, the skilled uke may vary the attack. Harder, faster, with different timing and focus points. The block will have to be solid, the counter punch must be fast and thrown true. The person doing the kata must be grounded with a solid stance, good body mechanics, even their breathing must be on point. They learn to detect the incoming attack in time to perform the kata, building up speed, threat detection, and so on. The advanced uke and tori (person doing the kata) begin to improvise. Perhaps the incoming punch is thrown with the left instead of the right. Maybe at the head instead of the middle body. And so on. They work the kata together - never abandoning the format of the kata, but being flexible about what it means. They can in time discover new principles and ways of seeing and responding to attack, and this is advanced bunkai.
I can teach a middle body block and counter punch in about 30 seconds to a student. I can correct the position of their block, their fist formation, their stance, and so on. If I'm a good teacher, I will see the weaknesses in their application of the basic movement. However, performing kata will do much to bring the student's work into alignment by itself, as bad balance will lead to stumbling, weak blocks won't stop an uke's punch, and so on.
A side effect of kata is that when done with a partner, it puts an end to the flinch reflex and the fear of being hit - because the student will get hit. It's no fun. Blocking seems more important when being hit, especially after the twentieth time in a row. A basic exercise by itself doesn't provide that.