Both sides had good enough chances to win the game in the end, with Peter Odemwingie forcing a number of good saves from Shay Given and Gabriel Agbonlahor, among others, denied by a string of Ben Foster stops.
The result leaves Villa three points above the relegation zone with games against Tottenham and Norwich remaining, however three teams below them are holding a game in hand and McLeish was happy to pick up a point in their quest for survival.
"It's better than none." The 53-year-old said. "We certainly don't think it's the worst point in the world because it's still in our hands with two games to go.
"If we can win those two games then it's another six points, it's there for the players, one of these guys in that dressing room will get the goal that matters for us."
In a moment of controversy shortly after half-time Alan Hutton appeared to handle the ball on the line, stopping Liam Ridgewell's goal-bound header. The visitors' manager agreed it struck the player's arm but suggested his own team could have had two spot kicks.
He added: "It did [strike Hutton's hand], but it was very similar to Chris Brunt's, when the player gives a jerk reaction. If it's a penalty then Chris Brunt's is a penalty.
"We had a better shout with five minutes to go when [Jonas] Olsson slid along the ground and dragged his arm out, with Ciaran Clark's shot was going straight into the bottom corner. So we felt a little disappointed we didn't get that decision, but maybe the referee didn't see it."
Meanwhile, Roy Hodgson agreed that a draw was the correct scoreline, admitting he thought a home win would have been harsh on the visitors.
The 64-year-old said: "It was a strange 0-0 in the sense that there were quite a lot of chances to score goals at both ends. The two goalkeepers were very good. Given's last save from Odemwingie was quite phenomenal really.
"It was an entertaining derby despite the scoreline and I'm happy enough with a point, [and] to get another clean sheet, its our 10th of the season which is very good considering how difficult we found [them] last season.
"It was a good point, a well deserved point and I don't lament the fact that we didn't get three. I think that would have been a bit harsh on Villa if they had lost the game by a goal to nil."
The former Liverpool manager also gave his thoughts on the penalty incident involving Hutton. The Baggies' boss was not sure at first but after watch replay's believed his side should have had a penalty.
When asked if the ball struck The Scot's arm, Hodgson replied: "I believe so. You can't see anymore from the bench than Mark Clattenburg can see, he's shielded by players. But when I look at the replay on TV I think probably we should have had one, maybe the linesman should probably have seen it."
Hodgson also suggested that the point could be enough to keep their rivals in the league, adding that had they lost the match survival would have been a lot harder.
"They'll be in the Premier League next season," he concluded. "I think today was important for them, had our last effort gone in that would have been quite difficult for them given other results.
"At the end [of the season] a point could be what it takes to keep you in the league, sometimes it points gained on days like today that keep you in the league."
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