I enjoy picking out which pipe to smoke, the act of smoking it, the room note left behind from a good tobacco.
Pipe smoking has its down sides. It takes a good amount of time to learn to do it right. (20 years, and I still don't think I have it down pat). There is all the little fiddly bits, like tools, cleaning items, a place to store them, cleaning up after yourself when you are done.
But there are the upsides. The feel of a warm pipe in your hands, the aforementioned 'room note' that lingers when you are done. Picking out just the right pipe to buy. Things like that.