certainly one of my favorite exercises. but be careful. deadlifts are all about proper form. i screwed up my lumbar spine in high school because i didn't know how to do a deadlift properly. i then avoided deadlifts for about 15 years because of the negative psychological association. eventually, after all of my exercise studies, i realized that deadlifts are an excellent compound movement and if i really wanted to develop my posterior chain, i'd better start up with these again.
even though i was certified personal trainer, i STILL asked my fellow trainers with more experience in the deadlift to educate me on my form and tweak it when necessary (that plus, well, they were hot). you definitely will need external critiques from an experienced trainer because of the very strong possibility that your own proprioception for this movement will be WAY off. you may think your doing the movement correctly, but because you may have never asked your body to move this way before, and fire these muscles in this certain order, and maintain stability through this certain range, your actual form may end up hurting you more than helping you. start with light weight (possibly just with the bar---and if you've never done these before, the bar will be enough), until whoever is showing you how do this is convinced you have the form down correctly. that was my approach with my own clients.
but once you get the form down, deadlifts are EXCELLENT! the overall benefits you'll see over time make it so worth the while.