Absolutely. Definitely with the books, since sometimes as I change I find something new in them, and because I tend to forget the details, although I may remember the general plot. Movies less so, but I can also watch them over and over, especially if they have good music in them... I still like "Singing in the Rain" for instance, and there's this traditional New Year's Russian movie that is pretty much a standard TV show every year (I guess like "A Christmas Story" for the Americans). There are a few others, like "Paycheck" and "Mr. and Mrs. Smith", which I already know what happens, but it doesn't matter, I still enjoy them.
Usually, it's not the matter of an "upper limit". Instead, it's the frequency. Usually, I'll revisit those favorites when I've forgotten the details, so it's sort of rediscovering anew.