Well, I agree with Aristotle's philosophy.
If you are talking about a life of pleasure strictly received via the senses, I would have to disagree.
A life of pure sensual pleasure is an empty happiness because you are ignoring the thing that separates us from other animals: the rational mind. Animals live strictly for the moment, but humans live outside of the moment since we can look to the past and future and have a concept of it. Once you lose your sources of sensual pleasure you will lose your happiness, because sensual pleasure is only gratifying for that moment. Eating an absolutely delicious piece of cake will make you happy that day, but a year later you probably won't even remember eating it.
If you spend your life achieving personal excellence, contemplation, and friendship, then nothing can ever take that happiness and pleasure away from you. The pleasure and happiness you receive from it will forever be embedded in your soul. That in itself is a pleasure worth pursuing.
Of course this isn't saying that sensual pleasure is bad in any way. Eating a good piece of cake is great... in moderation. Indulging (gluttony) in it is a different story.