I have all of the warcraft lore churning around my head, with all the different races events and land. Over the years i've spent hours every few weeks reading up on new stuff in the wowpedia (used to be wowwiki till later this year, R.I.P. Wowwiki).
I can't say that i could use it at moment, because it's too vast in that regard, however, i can create links and chain events and not be confused about the facts about the subject or the views of the characters on the situation while maintaining my personal. It helps that i've read some of the comics and borrowed a few books and played all the RTS games. I also played WoW by completing the world quest achievement twice (pre- and post-cata) while studying the quests.
Then again iam an info-maniac and suffer from severe information-poisoning. WoW isn't the only fantasy world I keep up to date with. Also, i have to note that i am not able to keep up with LOTR, though i do try, but i know many things that most people dont know. There is nothing to feel overly proud of or boast about. I have a hankering for information handling and course of events. Which is odd cause i hate history (actually I love history, but i despise the way that traditional institutions teach it, much like how they destroy wonderful "classic" books for students. This is dealt with by the principles of self-determination motivational theory (IE situation A: Volunteer enjoys their work and contributions but when they are employed in full-time capacity and paid for it they aren't motivated to do the task due to feeling like they're obligated to complete the task now or else they won't be paid. Datchley's news The diff being that its not what they want ot do, but what they HAVE to do.)
However, yes. I enjoy the lore for its own sake. Specially the night elf, old god and certain fave chars lore. I would like to see more discussions by draenai on the lore of Azeroth however it hasn't been re-read enough often.