The most
fun I had with DF2010 so far was indeed when I embarked with nothing but a pickaxe, 1 copper nugget, 1 wagon, 7 peasants, 2 kitties, 2 cows on a beach (= saltwater), and found out that Dwarf Therapist should not be used to make a peasant start mining or woodworking, because they won't pick up their equipment. I spent half of the spring figuring this out, and so everyone was already thirsty when I finally got around to produce the battleaxe for the woodcutter.
5 of them collapsed and died of dehydration just when at last the first two barrels of booze where ready and in the stockpile. And then one of the two survivors turned berserk and chased a cow through the landscape for the next one and a half seasons, until he died as well.
The last survivor got along then quite well, until immigrants arrived and he killed one of them in a tantrum.
The 3 survivors of that had then fun when they all were turned into noob medics and could diagnose each other. But the last of the first 7 needed surturing, and you probably all know that rope reeds in DF2010 are not one of the things that you find first. So, he died soon after.
Anyway, it became stable at or about after the dwarven caravan and the next immigrant wave... and I grew bored again.
Not exactly fun in losing, but fun in an extremely difficult situation. It was just hilarious how that berserker dwarf chased the cow all over the place, for instance.