At my school it was compulsory to take English Extension 1 in Year 11 ( so all 150 of us had to take the course). In the first couple weeks i had decided that this was not it and i was going to drop it. The end of year 11 came around quite quickly and i had to decide my HSC subjects. I ended up keeping Ext 1 so that i could improve my english for advanced (as i have a terrible teacher) and gain further sophistication in my writing. Keep in mind that i only took the subject as i knew that it would be my extra unit and i would drop it before my trial exams happened.
However, the trials exams just finished and i still haven't dropped English Extension 1! In fact it's probably become my favourite course in the whole of HSC. I put in the most minimal effort into the class, i never submitted work or practise essays (as i thought i was going to drop the subject and hence deemed it as a waste of my time - i also recommend that you don't do this, i just got really lucky with how things turned out) yet because i genuinely connected with the course, my marks for all my exams were better than my advanced english results. Currently i am rank 3/87 ext 1 students.
The elective course we did for year 12 was literary mindscapes - if your school does this i'm sure you will really enjoy it, it is really really interesting.
I recommend that you take EXT 1, if you don't enjoy it you can always drop it afterwards.
All the best !