Yes.
Here's the thing: You can play as difference races. You can be human, elf, and dwarf. Depending on who you choose to be, people will react differently to you. As you also know, your actions can also drive people away from your party. Who you side with for big sidequests also affects the last battle and some items you can get. And then if that's not enough, there's Awakening and some fun DLC lying around.
I guess it depends. To me, that was a great incentive for me to keep it, if only because that game was really long for me (Around 60 hours?). I'm not one to replay my games right away but if I ever replay it, I know I won't be doing the same things I did before. If that appeals to you, then sure. If you're looking for a different kind of replay value, like the kind a FPS would offer, then no.