Yeah, I just straight up don't explore anymore. The good stuff seems meh, but the bad stuff can fuck up your run. Just doesn't seem worth it. There are events that can injure you for days or delete all your money. I can't even remember the best reward from an exploration event, but I know it wasn't worth that risk.
There's well over 200 events you can get (I've played this game through so many times and I'm still getting Exploration events I've never seen.) and sometimes you can get really shitty results. I usually get nothing out of it, but sometimes some nice little bonuses like 1000, 3000, or 5000 gold or soldiers. On rare occasion some nice reputation/favor with other countries and characters. I don't normally get the bad results anymore, since I better know what options not to take in events I've already seen, now.
Definitely feels like there's more to do in Exploration if you play as a girl. Most events seem to be written for sending females out to explore.
Also, if you explore specific areas, the Hot Springs of Old Hell, Stray Home of Mayohiga(Chen's house), and the Rabbit Village (Generic events and a plethora of Tewi mini-events, both event sets entirely repeatable.) have a fair number of sexytime events.
Waterfall also has a tiny number of repeatable sex events with generic tengu. There's also the cemetary with some non-repeatable events where you fuck a tiddy-Necromancer (once), though it's pretty out-and-out rape-y.
Hot Springs, Stray Home, and Rabbit Village are definitely the most interesting ones. Now if only they weren't spread so far apart on the trails and two of them weren't inside utterly massive sections of territory to take over before you're entirely safe behind relay points. Takes getting to their content to be a little annoying.