I don't dance, well actually I don't dance because my husband doesn't dance. I think the waltz is my favorite dance to watch. It's so elegant. I love watching old movies with large crowds waltzing around a ballroom. I just watched the movie, Holiday with Cary Grant and Katherine Hepburn last weekend and it included a scene of people waltzing.
In the 1800's, California banned the waltz because of ho close the two partners danced together. Did you see The Legend of Zorro with Antonio Banderas and Catherine Zeta-Jones? In one scene, they danced a very risque version of the waltz. If you haven't seen the movie I highly recommend it.
There are many versions of the waltz, mostly based on the country of their origin. I've linked a couple videos below to see.