I like Ultimate Fighting, but I can't get into it. Partly due to time, I don't watch wrestling as much either.
What I like about wrestling is the crowd interaction. Why I love watching sporting events when the fans are into, how I got hooked on World Cup soccer in 1998, it was the fans. It's amazing. To have 20,000 jump and cheer at once boggles my mind to this day. Part of what I loved about last year's playoffs was the atmosphere in the Dome, and how the excitement oozed out the TV (hence the nation getting infected with Flames Fever).
It's more to do with the fans for me, than the wrestling itself. Mind you some of the stuff they do is pretty cool that you just can't do in a "real fight". There's no Stone Cold Stunners, RKOs, Olympic Slams, Lombardi Leap, whatever RVD feels like doing (that guy's amazing to watch IMO).
Yeah it's mindless entertainment but think of this this way. When talking to a firend of mine about women I made this comparision:
"Women are like professional wrestling: fun to watch, good for a laugh, entertaining to be around, make for good TV, but the moment you apply logic it all goes to hell."
Yes wrestling's mindless, but it's fun to watch, good for a laugh, entertaining, makes for good TV, just don't apply logic