You'll be pleasantly surprised to know this is more of a viable option than it used to be. It's quite hard to fill up your food bar once empty, but quite easy to jump off a cliff to reset it.
>I never really had any good idea as to what I should actually do in the game, besides build a random house on some random hilltop and admire the view.
I think everyone has this question. I tried to solve it by setting personal goals for myself:
1. build a complex redstone circuit; here's one of mine: http://youtu.be/qnd9l2_qrF0
2. craft a map (which can only be filled in by exploring the surrounding area) and fill it in completely
If you decide to try to "beat" the game, be warned that it's rather boring and anticlimactic. Probably the coolest part is it forces you to explore the "Nether".
Overall, the game has progressed nicely.
For me, this works well, as I just play when I really feel like it and no more time that my brain can handle[1], and when there are dangerous situations, you can really feel the stress for survival and preservation of all the "things" built.
[1]: Sometimes with games, after one hour or two, one is just playing the game, but not enjoying it.
At first the food mechanic was a little annoying but it has added a nice touch to the game. You tend to be a little more careful than before and you have to devote a little more time to food resources. But this is slightly configurable based on the difficulty setting as well.