First Person = Experiential
What I like about first person is that it can make the reader feel like they are the protagonist, they are experiencing the story. It does have many limits, but as a way to write a novel it also has many positive aspects.
Something I found interesting was the reactions that children have when reading a first person story. I used to work at an elementary school as a reading tutor. My students were from first grade up through third. I even had a first grader who tested into his grading level, which made me feel so proud. During tests they would have to read a story, timed, and then tell me what they read in order to test how much they retain.
What I found very surprising is the gender of the main character that the students would guess. I would have thought that they would guess their own gender, but the truth is it varies with each story. There was no noticeable pattern to their versions of the story.
I think that it's great to have such openness when reading a story.