Great discussion topic.
I too have felt that minifigs are overly popular these days - IMO LEGO should be primarly a building toy (like it was in my dad's day before the cute little smiley-faced plastic people showed up on the scene...) and the figures, while greatly increasing the playability, should be secondary.
But... it's kind of hard to explain this... I don't actually live this out anymore:P.
When I was young and really into LEGO (I pretty much lived LEGO), building was HUGE for me (just the way I am - I love building). I would build great creations and always be out of pieces. That being said, I also loved playing with stuff that I built...
However, recently I got a bit interested in LEGO again. I've built a few MOCs over the past year, but mainly, I'm into the figures now. I feel sort of hypocritical, but, well... that's what's fun for me now. I don't really have a large piece collection to make some of the beautiful detailed and color-coded MOCs I see around here and I seldom have time to build anyways. I haven't bought any sets since my re-interest in LEGO truth be told there aren't many I'm interested in getting - IMO the sets are too focused on specific 'special' pieces and don't come with enough good building bricks - one of my main issues with TLC today. (I'd consider buying a few of the exlusives like the Tower Bridge or Space Shuttle or stuff that comes with a lot of good pieces that I could have fun building, but I don't think I could justify spending the money on them afterwards cause I'm not THAT into LEGO and I don't know what I'd do other than put them on display...)
So mostly I'm into collecting minifigures now (due to time, money, interests, etc - I just never feel fulfilled after building anymore). They're fun, and probably one of the main reasons that I would buy a set today (if I actually bought any!). I've purchased a few specific figs on Ebay or BrickLink over the past year or so. The new collectible minifigs are great and I'm excited about getting a few of them.
I use my minifigures whenever I possibly can - they mostly stand on my shelf looking cute or goofy or cool or w/e; but whenever I play a board game that I can replace pieces with minifigs (i.e. Monopoly pieces, or the Barbarian/Robber/Pirate from Settlers of Catan) I always do :).
Wow, sorry that got really long-winded... this is a topic I've thought about quite a bit and I had a lot to say...
Edit:
Yeah, come to think of it, that's what probably did it for me too - during my 'dark ages' I got really into Robin Hood and stuff, and I was looking through an old LEGO catalogue and noticed... a LEGO ROBIN HOOD HAT?!? That got me started on it again as I began looking up forestmen and all of the old sets with them and finding stuff on Ebay... yeah... forestmen FTW... (see my avatar and sig :P).