I started taking myths and legends more seriously when I realised that most cultures on this planet have a Noah's Flood story that is spookily similar to all the others. As those guys didn't have email or SMS then it could be that there was a world wide event in ancient times that was relayed to future ages through the art of the story teller.
The Welsh Fairy Book is a collection of ancient myths and legends and if you have the kind of open mind that accepts visitors from other worlds with unusual powers, flying vehicles and time warp then there is some fun reading here.
For me though, it is also a handy guide to have around when I am trying to decipher the story in the original language for my Welsh homework.