It’s great in that it’s untraceable, unlike torrents. It’s not so great in that you can’t just go in there and get what you want all the time. You have to kind of grab stuff as it flys by if it looks interesting.
If you decide to experiment with newsgroups, you’re going to want to subscribe to a service. I was subscribed until recently to easynews and their service is fantastic. I would recommend them highly. I paid $10 a month, but they have other plans available.
If you’re on Windows, head over to daansystems.com and buy a copy of NewsReactor. It costs around $15, but its WELL worth the cost. You get upgrades for free for ever once you buy. You can also download a trial version.
Unfortunately, there aren’t any decent news readers for the Mac. The only one that people seem to use if Thoth, but it’s not beign made any more and I had a hard time figuring out how to use it.