Phases of wave functions most certainly do not play a "wee" role in quantum mechanics. The time evolution of the wave function is a little more complicated than a phase, but it is that simple for stationary states. It also comes up in the context of magnetic fields, such as the Aharonov-Bohm effect, which is a purely quantum effect. The constraints on the phase provide a variety of requirements for systems that are closed on, say, a loop.
There's a huge amount of stuff that's contained in relative phases of wave functions, and I suggest you poke around a bit more. Sakurai talks about it a bit in the second chapter.