Yes, it's fun.
What I really enjoy is looking for all the little hidden things in the movie, the props and set dressing, and the little side comments that advance the story. I'm sure Ang and his crew made the movie to be watched over and over. Here's an example: in the wedding scene, Ennis is wearing a suit jacket and a pair of jeans, while his best man (presumably his brother K.E.) is wearing the pants of the suit.
I also have fun seeing the way ideas from the story were translated into the movie.
Maybe I am a Wyomingite at heart because, as Annie wrote, there, you have to "find your own fun."