I absolutely go back to my favorite things. I've read the Harry Potter books at least 3 times; the first 3 probably 10 or more times. Just in theaters, I've watched all the Harry Potter movies at least 4 times, most 7 or more. I saw Peter Pan in theaters 10 times, at least 3 times since then. I've seen A Walk to Remember and Titanic probably at least 5 times, even though I sob every time I watch. Genius I've watched countless times after heartbreaks and bad days. I watched my favorite Disney movies over and over when I was young. I'm surprised my Lion King VHS still plays. Though I expect that's common for kids.
Even some of my newer favorite movies, like The Girl Who Leapt Through Time and Lost and Delirious, I watched my favorite parts over and over for a week or so, enjoying my new obsessions. HeH.
Also, though the question is just talking about books and movies, I've played Kingdom Hearts probably 4 full times, many other partial times. I've played Final Fantasy X twice. I'm not sure how many times I played Super Mario RPG, but I'd say at least 5. I really need to finish 2nd playthroughs of Shadow Hearts and Covenant. And I've watched and read NANA tons of times! I've seen every episode of Degrassi at least twice. I also listen to my favorite podcasts over and over again.
Basically, there are no limits on re-enjoying things I love. But of course, you do want to make sure you give new things a chance. You never know when I new favorite may arise! For instance, today I read the first volume of Mars, and I'm totally in love. I'm so happy to find something new to obsess over. Especially to try and get me through the coughing fit end of this cold! Basically, it's been tea and tissues and Kingdom Hearts: Birth By Sleep for the last 7 days. I'm definitely feeling better, but the coughing has been disrupting my sleeping the last few days, and I can get really messed up over loss of sleep.