Vegetarianism has been around for a long time. It has roots in ancient India and Greece.
I have some friends that eat that way, but I don't think I ever could.  I really love my steak and seafood!
I don't think I could do it either, although sometimes I wish I could. I think non-consumption of the flesh of any animals is an admirable diet. 
Yes, I can see that it could be considered admirable for some people.  Does it pose any health benefits or risks?
Not that I know of but possibly. Many become vegetarians for health-related reasons, so it has benefits.
I guess all the fiber from the veggies and fruits and such would be a good thing.  Do people do it for other reasons than to save animals?
Some become vegetarians for environmental, cultural, or economic reasons.