Go for the Combo if you can afford it, even if you don't fish much it's worth it when you do.
All the money raised from Lifetime License sales goes into a special account that only TPWD gets to use.

I have been hunting for "free" for about 4 years now. It was a wonderful investment for me.

I bought the combo for my son when he was a toddler and myself, though most would have said I was too old to benefit from it. It was before the increase. Seeing the money went to an endowment fund instead of the general fund is what sold me. Then I went crazy and bought the lifetime Colorado Conservation permit for similar reasons and also in it's first year before any increase. Then $250 nonresident Lifetime Oklahoma fishing licenses for the entire family as it was the last year it was available. Because I hunt and fish most everthing in all three states, and the price increases, collectively I have already saved money IMO. Not having to budget for license and endorsement costs every year has been nice too.