Magsie,
Are we ganging up on carboncareful? (In a friendly way, that is). We're both extolling the benefits of "ancestor hunting" and putting forward the arguments for doing it, in opposition to the idea of it being daft and a waste of time.
I think that golf is a good walk spoilt, but some golfing friends have told me I should try it and then I'd learn to love it. 
My experience tells me that genealogy is a pastime that starts out with simple and limited expectations, but grows as you gradually become hooked on it. The range of the work expands in all directions, taking in, as you've highlighted, areas such as research into the industries in which your family worked. It becomes an interest in social history as well as in individual family members.
Also, when other family members are given copies of the findings, they not only devour it with interest, but then want more!
So overall I have to say that I'm glad I've done it - and continue to do it. Maybe if we continue to make its positive elements known, carboncareful will finish up asking for advice on how to get started! 