Yes, just letting it age works great. If you get the moisture content just right, and store in moisture-proof bags, great improvement in smoke-ability for cigarettes in a couple years.
I've recently discovered that letting the leaf hang in the air-curing shed for a year or two works even better. There is something about letting it go in-and-out of case over the seasons that works wonders. My results have been that 2-year old shed-aged smokes are better than 4-5 year bag-aged, or fermented, for the same tobacco strain. Kudos to Mother Nature!
The biggest drawback is having the storage shed space available, and constant maintenance to avoid problems with insects, mold, etc.