Yeah, it is. Depends what you do with it. I used to raid every night (BWL, Naxx, AQ40 etc). Now I've quit raiding; so I just do whatever - atm my main goals are to farm the mats for my Primal Mooncloth gear, and grind honour/arena points to purchase my PvP gear.
Whenever I get bored with that, I either level my little shammy, or I go and grief some horde lowbies - eg., camping in Stranglethorn Vale. Sometimes a group of friends and I will get bored, so we'll go STV and fight our way onto their zep, and fly over to the horde towns. One night we fought/ran all the way into Wailing Caverns, did that for fun, then fought back out. You take some dura hits now that the guards are, like, level 65, but it's so much fun. We used to do it every Friday & Saturday night prior to TBC.
My advice? Roll a PvP server - you'll get griefed and frustrated as a lowbie, but the fun is great at 70.
Edit: Er, not Wailing Caverns. I think it's called Ragefire Chasm??
Also sneaking into the Undercity is fun. We ganked a couple of lowbies out there and camped them for ages. Then my rogue friend stealthed and I hit my /afk tag so they thought I was AFK. Sure enough, they resed and tried to kill me that way. I jumped and we 1 shotted them. Then they got smart and didn't res until their /PvP tag was disabled (5 min timer since we were in their territory). Fun times!