I am a serious nerd and enough of a scholar to get a PhD in theoretical physics, but I also found that P.E. was one of the most meaningful things I did in primary school.
I took a lot of pleasure in it and it was one activity where I was in the middle of the pack (as opposed to being a kid who seemed gifted sometimes and "special" at other times)
PE classes were one thing that got me started on a lifetime of physical activity. (It helped that I grew up near the woods, that my dad was a serious jock who played Football for the Syracuse Orangemen, my parents had me bike for transportation, they took me to the Y.M.C.A.,...)