For me it has mainly been a learning experience. For example, once you become lucid in your dream, you may want to have conversations with the other characters in your dream to find out what it's all about. It's like talking to your subconscious mind. ie. if someone is chasing you all the time in your dreams, you can stop, turn around and ask them why they are chasing you etc.
Also, there are the obvious benefits of being able to play out your fantasies in a dream world which is much more real than daydreaming for example.
Mostly, in one way or another I would say that lucid dreaming helps you learn about yourself and your innermost subconsious feelings, fears etc.
The first time you are capable of having a lucid dream and the first time you learn how to fly in a dream are all awesome experiences of intense freedom.
The most annoying is waking up before you're ready.
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