Definitely interesting -- why do you think the back story / context would've turned you off? I started watching a lot of Japanese by picking up tapes based on recs from the WON and years later looking things up. While I enjoyed what I watched, I recently started rewatching a lot of AJ from the DVDVR 80s project as well as all the 90s classics in chronological order and (re)reading a bit more about much of it along the way. Going back and watching in that fashion has been *significantly* more enjoyable, as I've been able to pick up on and appreciate a lot of little things that previously escaped me and better follow the story from match to match, year to year.
Looking forward to doing the same w/ NJ as I'm just diving in to the '92 yearbook and will watch those straight through '96 and then beyond whenever there's time.
As an aside, I've watched VERY little lucha -- as in maybe a few DVDs and a matches online worth. Have generally enjoyed it but am def interested in seeing a lot more on the yearbooks. Always wanted to get into it but never really made the effort.