Blowdown valves have a couple of purposes. A bottom blowdown valve as Brian describes, allows you to blow out any crud that may have settled near the bottom of the lower drum or water legs..
A top blowdown valve is typically located below the minumum water level and is used to control the buildup of dissolved solids such as calcium and other ions left behind when the water is evaporated. If this isn't done, over time the concentration will build up to the point scaling can occur. On model engine boilers i doubt if this would be much of an issue. If the boiler isn't run continuously for long periods of time and flushed when you're done, you shouldn't have much of a problem.
Tim