I did transition year in 1996/1997, and I think we were only the second class to do it in my school. We took another European language for a year, and I did Art, Home Economics, Metalwork, and Woodworking classes that had no aptitude for and never would have picked for my leaving cert years. They were great and I learned skills that I still use.
For my work placement, I worked in a folk instrument store and learned a lot about acoustic instruments, but also the basics of showing up on time, getting things done, and more. It was invaluable. The reduced pressure meant I could also work at the local McDonald's, and the income from 6 months of shift-work there made a big difference for me and my family. It was a start of some modest savings that allowed me to even consider going to college later (I still had to work through college, but at least it was doable).
Transition Year, the introduction of Free Third Level Education, and the blinded CAO application process for universities were all game changers for me. I grew up in Ballyfermot, a working class part of Dublin, and when I went to college I found out there was still only a tiny handful of people from there who'd had that opportunity. Still so thankful.