Yes, I agree 110% with all the comments made here about the psychological and physical benefits of cycling! 
I have always been prone to depression and anxiety, particularly during grey cloudy weather (which we have now despite it officially being the beginning of summer here in Australia!
) and cycling really helps with that. Once those endorphins get going, wow it is just such an excellent feeling - calm, centred, relaxed yet more awake than before! Plus I think that mastering bike handling skills and achieving goals like to ride a certain distance or to beat a personal time, is SO good for one's self esteem. I feel really good about myself after most bike rides.
On the physical side, I have lost about 5 kilos (not sure how many pounds this is...) in the last 6 months, since getting the stamina to start doing longer harder rides. Also, my leg and butt muscles rock (if I may be a little immodest
) and I feel so strong! I'm the happiest I've ever been with my body, I reckon! But I agree, it is a real danger to start thinking you can eat whatever you want. So hard limiting the eating damage after a long ride - usually right after I'm not so hungry, but the two days after, OMG get me away from the fridge!
To sum up, just over a year after getting into bike riding, I love it, am completely addicted and never want to give up the amazing benefits!
Go for it, you'll love it too I'm sure!
2008 Giant Elwood hybrid/Crappy gel with big chunk out of it!
2010 Giant Avail/WTB Deva Womens