What is the point of storing the salt with the hashed value?
http://codahale.com/how-to-safely-store-a-password/
[Edit: I meant your typical web application mucking about with salts, not their use within properly thought out things like bcrypt]
Salts will prevent the typical rainbow table attack where you have precomputed hashes for a large number of attempts. Salts won't prevent brute force, but bcrypt will make it so that brute force takes too long for a single given user.