I quite like worldbuilding for its own sake... but I don't indulge in it much, for many of the reasons listed here. The main reason I don't, though, is that my attention span is really short. If I spend months working up a setting, by the time I get that much detail done, I've usually lost interest in it and either want to retool it as something else, or not even use it at all.
I find that what works best for me is worldbuilding at a "macro" level. I like working out interesting twists, broad strokes and whatnot. I believe that I am pretty good at winging details on the fly and remembering them later so that they become consistent. The example you gave, of printing out menus of some inn in some town in some minor section of your world? I'd never do that.
I also believe quite firmly in the Ray Winninger approach, that is; not to develop too much detail too far ahead, because 1) I like the flexibility to be able to react to the PCs actions, and 2) I like the flexibility to be able to integrate whatever new idea has caught my fancy lately.
But I'm not too strict about the Ray Winninger methodology, precisely because I do enjoy worldbuilding for its own sake, so I indulge a bit.