I just spent 2 hours on a level 4 character just wandering around. Did not do one quest, just looked at the view. I have maybe 250-300 hours on the 360 and just got it for my PC, where I was playing tonight.
You have been Skyrim'd. It usually is fully worth it and fully compatible with all ideas of worth it. I haven't done many quests on my main and am loving it.
Welcome to The Elder Scrolls series! That's the single greatest strength of the series, IMO. Each of the games allow you to lose hours on end, doing the most mundane things - and have a blast doing so!