It isn't "kollel Jewish law", just "Jewish law". The kollel is the place where they study, like a college.
The benefit OF studying all day is that it increases the amount of torah study in the world, which, according to Jewish dogma, is a benefit in and of itself.
If you see the home of a "black hat" Jew (an Orthodox Jew who wears black suits and a black hat), you will see a book case filled with tens or even hundreds of books, which actually are studied (generally, they will be studied in partnership, with two people studying together). On the other hand, if he has a tv anywhere, it probably will be in a cramped, uncomfortable place in the house. That is because they regard any time spent not studying torah (or earning their livelihood) as time wasted.
I have seen Orthodox Jews praying in different places and when I see them or very religious people of different faiths they always look so serious like they are un-happy, I often wondered if people can be overly religious?
I think GOD want us to have fun laugh, get with our friends and have Spa day or go to a baseball game and root for your favorite team..sometimes to much religion only leads to confusement GOD does not want us to know everything at least not yet...