Absolutely. I love film and love picking my brain while watching them.
I think it's a great American pasttime the same way Baseball is. Sometimes it seems like Hollywood is running out of ideas and things like that, I see it as the industry changing. Anyone can make a movie these days and it allows for over saturation, but as long as you know what movies you like, and research films before watching it's a pretty good experience.
If you're willing to look around there are thriving movie communities out there, like IMDB and online movie critics. They'll help you find good movies to watch.
Last film I saw that I enjoyed was Prometheus, confusing but interesting. I'm looking forward to seeing Spiderman and then Dark Knight afterwards.
As perserverance stated though, it can break your bank.