The Four Objectives when Practicing Tremolos 

Yes, a good tremolo will improve your arpeggios and overall control/refinement of your right hand. Of course, your musicianship will suck if you can't do these things well.

@TheDouglasSeth then why not concentrate on arpeggios etc . Things that actually get used . Also I have heard a lot of high grade guitarists playing this particular piece and have only heard one who's tremolo was actually smooth and flowing. In the end I think that its your own musicality which comes from your brain, heart, soul that determines your musical ability not just endless hours practicing exercises , if that were the case than every trained musician or in fact any highly trained person in any field would be brilliant at what they do which is clearly not the case

Once upon a time I discovered a wonderful composer named Barrios. He has written beautiful pieces using tremolo. Ouch, I can't play them because someone told me that it occurs rarely, so no need to learn it. Meaning: please explore the guitar literature. Second. The training of the typical fast ami tremolo movement opens a gate to very fast melodic playing. Third. I heard several masters doing it perfectly. Meaning: please listen to many recordings. Fourth. Tremolo is an essential ingredient in music. Sooner or later you need it.

@mer1red No you haven't convinced me . Speed is not a requirement for beautiful music. The majority of beautiful music in the world is slow. This reminds me of the shredders who play electric guitar at lightning speed with highly controlled tapping etc. Yet not a single decent or memorable piece of music. If you want to spend endless hours trying to perfect a technique that is rarely perfected by anyone (these are concert level players I've alluded to )then fine .if there are many pieces that utilise this than why do all tutorials on this only ever feature the same piece. As I said I dislike this particular piece and think most classical guitar music that uses this sound really Corney. Flamenco guitar is where it is acceptable. Well to each his/her own. Well done for playing liking the guitar. No disrespect was intended to anyone. I don't think I know more than anyone else. I just think there is a lot of dogma( if that's the right term ) in classical guitar practice that is not real. Pretending you all play only off the left side of the nail ( watch carefully you will find other than index you don't). Also it must be obvious by now I only engaged in this conversation as I'm bored.

Go practice

You can have the right hand nails just 1-2mm beyond the meaty tip of fingers. It works just as well, yielding very warm of finger tip+ nails tone vs just nails. The nails are barely noticeable. Segovia had very short nails, as well as many other earlier generation famous performers. Look up F. Carruli's guitar method books.

Another factoid-Francisco Tarrega, the author of Recuerdos de la Alhambra, played with no nails!

Because Tarrega played gut strings.

Tricks? Yes! Tell them to shut up and do your thing! 😎