I've just watched Generations for the first time in at least 7 years, and I feel like my opinion of it has changed somewhat, I saw it on the big screen 4 times as a scruffy 19 year old student and loved it, but as time went by it gradually slid down the pecking order until I stopped watching it.
Now upon revisiting, I absolutely adore the way the film looks, the cinematography, lighting, score - all first rate, the scenes on the Enterprise near the Amagosa station are stunning looking lending the film a real big screen quality that the likes of 'Insurrection' sorely lacked and to a lesser extent 'First Contact' and 'Nemesis' I don't think a Trek film looked as good until JJ came along to be honest, I just didn't appreciate it all those years ago. The other surprise is how well the visual effects hold up, in that they do very well indeed and barely seem to have dated against all but the blockbusters of the last decade or so, the Enterprise looks awesome in every shot it's in - check out the approach to the Amagosa station - gorgeous, the destruction of Veridian 3 easily holds up to and perhaps even beats the destruction of Vulcan in ST09 - and that is no mean feat considering the films age. The Enterprise crash still holds up very well today also - very clever use of models and slo-mo give the scene a realistic edge, I don't think that the CGI of the time would have worked anywhere near as well. (We'll just forget about the recycled footage of the BoP explosion eh?)
I was seriously upping the films ranking as I was watching it last night, then I remembered what I disliked about it. The moment you see Picard spinning with the blindfold on my heart sank as I recalled this is pretty much the moment the film falls on it's arse for me, not just the whole stupidity of the Nexus plot, but the very cheap looking climax at the rocket launch site combined with some cheesy dialogue and the lousy death of James T threatens to undermine the rest of the movie, which for the most part I found to be quite excellent up to that point.
I enjoyed it as much as I did back in '94 again in the main and now see it as a pretty solid installment in the series that has aged a lot better that I thought it had.