No AoOs is a good thing for CoC. Helps PC survival. Besides, as already pointed out, a lot more combat is ranged as well as being quick and dirty.
The real necessity for AoOs is to simplify an IgoUgo action based system and create a reasonable disincentive for doing unreasonable things. Like weaving between multiple grunts to reach the wizard in the back.
In 1e/2e, DMs usually just flat out would not allow it. No discussion. No rolls.
In 3e, there are a lot of reckless tactics that are allowed. There is also a well defined price to be paid.
If you play a game where using miniatures is helpful, then AoOs definitely make sense. Even if you ditch the AoO rules, the DM will find a lot of situations where he would be tempted to say "I will let you do that, but that Orc will get a free swing at you."