I'm not a filmmaker, but it's safe to assume that short films are essential to have on a CV for up and coming directors. They're a great way to learn the art of film making for the filmmaker and the offer a few minutes of entertainment for the fan. You don't always need a full feature to get your message across, and you definitely don't need one to entertain. Up and coming Irish director Gerard Lough has made 5 shorts,, and they've all been amazing. The above link is the full short for The Stolen Wings, and I strongly recommend you take 4 minutes 34 seconds of your time and watch it and if you like it then go on and watch all of his stuff, because quite frankly, he's amazing. The Stolen Wings took 11 months to make and it's definitely paid off.
Surely it's only a matter of time before he gets the budget to make a full feature, and when he does I'll be the first to see it. I really hope he continues down the path of making imaginative horror and fantasy. In under 5 minutes, he manages to tell such unique stories.