I've been a fan of Baileys for many years now, I was first introduced to it as an ingredient in a very lovely cocktail. I then progressed to trying it on it's own and find it suits a number of occasions, although the only time I tend to buy a bottle of Baileys to drink at home is at this time of year ready for Christmas.

Drinking Baileys
Baileys is a mix of spirits, Irish cream and Irish Whiskey which together leave you with a beautifully smooth creamy drink. I like to drink mine on ice although I find you need to drink it before the ice melts and waters it down. I find it enjoyable to drink outside on a hot summers evening but also in contrast it is perfect on a cold winters evening.
Most people I know like Baileys and it's the one drink that I know will be accepted by both family and friends, this is why I always buy a bottle for Christmas as it always gets drunk and I've never had to worry about it going off before the bottle is empty. The bottle recommends that it is consumed within 6 months of opening but there is no need to store it in the fridge once opened.
My favourite Indian restaurant frequently gives the ladies free Baileys at the end of meal. I find this is the perfect way to end a meal and evening. Even if I have drank wine with the meal having a Baileys doesn't make me feel any worse the day after.
Baileys has a 17% alcohol content so it is a lower option than drinking most spirits would be. As it tastes so delicious it is easy to poor and drink a larger measure if you are at home than you would get if you were buying it at a pub or restaurant.
In recent years the Baileys range has expanded and now includes
Mint Chocolate
Crème Caramel
Coffee
Hazelnut
Biscotti
Orange Truffle
I like the original and so have stuck with it and not tried any of the above.

Price and availability
Widely available from alcohol retailers it is currently (October 2012) £12 for a 1 litre bottle in Tesco full price is £20.

Would I recommend?
Yes, if you've never tried it make this the year you do. My Baileys glasses which I received as part of a gift set will be out again soon. Cheers!