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Yes, Smalltalk is so important you should study it. Why? You can understand object-oriented programming in pure, simple form. What people forget is that the Smalltalk-80 "Blue Book" has only about 90 pages devoted to the language—the language is just that simple. The other 300 pages talk about the predefined class hierarchy, which is a masterpiece of design for a class-based, object-oriented language that uses single inheritance. You will get a much deeper understanding of objects (e.g., classes are objects, and they have metaclasses, and so on off to infinity... except the knot is carefully tied to keep the system finite) than you would ever get from studying a hybrid language like Java or C++. Smalltalk matters not just because of its history but because of its simplicity:
Simple enough so you can understand the entire language and the libraries
Shows one idea (objects are all you need) pushed to its logical extreme
Everybody has something to learn from Smalltalk!
If you only know one object-oriented language you should consider learning a second and a third and a fourth in order to gain a broader perspective on programming with objects. Learning Smalltalk will stretch your brain because a lot of the familiar concepts we're used to in other languages (e.g. if-then-else, for(;;), while(), etc) are not there in Smalltalk. There are equivalents, obviously, but Smalltalk does things differently, and learning about different ways to do things is always a good idea.
Good luck.