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There are some good things about it and some bad. The event itself is like a tailgate party with a mass of people waiting, drinking, eating and there are about ten folks to every buffalo rounded up. Since it is an honor to be one of the cowboys/cowgirls participating, they take their time enjoying the moment and moving the cattle to the roundup area. Maybe it is one of those things you should see once but I would not go again for the roundup. However...
South Dakota is beautiful at that time of year with the fall color and the buffalo are plentiful leading up to the roundup. Herds are moved into Custer State Park for the event. After the event, when most of the tourists have moved on, it is nice to photograph the cowboys working the herd, weighing the buffalo, giving them shots, etc. And too, there is so much else to see and photograph.
Of course there is the big head monument (Mt Rushmore) and Crazy Horse Monument close by, Spearfish Canyon is wonderful to hike and photograph with the added bonus of a very good restaurant at the end of the hike (the Latchstring Restaurant). Nearby is Deadwood and Rapid City. Depending on which way you are coming or going you can visit the Devil's Tower (Wyoming), Carhenge (Alliance Nebraska), and the Badlands. Wall Drug, while toursity, has great old photos hanging on the walls and worth a stop. The Sylvan Lake Lodge is very nice place to stay in the park and is still open up to just after the roundup. In Hill City there is the Alpine Inn with its great German restaurant. And that is just starters for much more...