First, I don't want the student to feel like I'm just there to put in my hour or two, and tally up my hours. I always liked it when my instructor came out with me to help me out with the inspection. It gives you a feeling that you fully have their attention, and they are concerned about the lesson.
One of my pet peeves has always been when my instructor sends me out to do the preflight, when all they are doing is just standing around the FBO, shooting the breeze with other people. Or when it is really cold out, and they just don't feel like getting chilly. No I admit, preflight inspections can be uncomfortable when it is below the freezing mark, but if I go and help out my student, it goes a little quicker, and we can fire up the engine and get the cabin heat going that much sooner.
With all that being said, here is the REAL reason I join my student for the inspection: I want to make sure it is airworthy, because my life depends on it.
My body will be in that airplane just like my student's will be, and I want to check everything first hand and make sure it is in good shape to fly. After all, these are STUDENTS that I'm flying with. Students are prone to miss things. Not that I'm not, but if there are two eyes checking everything, it gives us a much greater chance to catch anything that should prevent us from conducting a safe flight.
Once again, if your instructor doesn't always join you on your preflight inspection, it doesn't make them a bad instructor, so don't go and confront them about it. I'm just telling you why I do. I'd love to hear comments.
P.S. Happy Thanksgiving!!

You can see, we have our avionics set up to simulate the LOC BC RWY 23 approach that we were practicing that day. We have the CDI 1 representing the localizer back course final approach course, and the VOR (FAF) in the CDI 2 just adjacent to the approach course. The lines indicate the radial we have tuned in.
However, let's say that we weren't paying attention to what we had our CDI 2 set on, and we left it on say a 320. Let's take a look at what that scenario would look like.
You can see that you would never get a flip on this setup. If you tracked the localizer all the way in, with a 320 set up on #2 CDI, you would have a FROM indication all the way in. Let's say you had #2 set up on a 140, and you happened to drift off course before you hit the FAF. You would actually get a TO/FROM flip way before you crossed the VOR.
I really like to use it when practicing holds. You can even set a wind out of any direction and velocity. This is excellent to use for holds, and getting the hang of NDB navigation. I'm telling you, try this thing out. It is very useful. So long.