For those of you who haven't listened to it yet, I highly recommend giving Ron Moore and Brannon Braga's commentary a shot. I'd say they address a good 90% of the problems mentioned here.
As for me, I loved the film when I first saw it at age 11 but it hasn't aged well. There's some good stuff in it but more often than not, it comes across as "silly." This film is a textbook case as to why studio interference isn't always a good thing. In short, Paramount presented the filmmakers with a laundry list of things that needed to be included.
MY LIKES:
-I thought the movie looked beautiful and was shot very well... it really seemed like the filmmakers were trying to make a "movie"... I may be in the minority but I never minded the dark lighting on the Enterprise (rest in peace, John Alonzo ASC)
-the visual effects... ILM knocks one out of the park (stock footage notwithstanding, though I believe the Enterprise flyby was optically recomposited from the original elements)
-the modifications made to the Enterprise-D bridge... too bad the ship was destroyed!
-Shatner... I also enjoyed seeing Koenig and Doohan but some of their dialogue is cringe-inducing ("I vas never that young")
-some familiar faces: Alan Ruck, Jenette Goldstein, Tim Russ, Tom Kopache, and Glenn Morshower
-the stellar cartography scene (might be the best scene in the film)
-the modifications made to the Enterprise-A bridge to turn it into the Enterprise-B bridge
-the opening title sequence w/ the champagne bottle
-the Nexus imagery... the shot of the ribbon rolling past the mountain (which was used in all the TV ads and trailers) is probably bigger than anything seen in Insurrection or Nemesis
-Malcolm McDowell (he does what he can but I shudder to think of the character played by a lesser actor)
-maybe I'm an old softy but I liked Picard's Nexus fantasy

-Dennis McCarthy's music score is good, but not great
-the space battle, especially the "Fire at will" line, followed by a shot of Will Riker (I don't know if this was intentional)... but yeah, it should've taken more than an old BoP to take out the Enterprise
MY DISLIKES:
-to paraphrase the Ron Moore/Brannon Braga commentary, the idea of the Nexus was a good one but was too ill-defined and just opened itself up to plot holes
-Data's "Oh, shit" line doesn't sit well with me for some reason
-the whole "Let's go back in time five minutes before instead of, say, ten years" plot hole
-the idea of existing in the Nexus as an "echo" (Moore/Braga have no explanation for this)
-Soran's entire plan... they say he can't fly into the Nexus with a ship but how did he get there in the first place?
-too much technobabble, and it's worse coming from Scotty in the Ent-B scenes
-Captain Harriman's incompetence... but if he knew his stuff, he wouldn't need Kirk's help
-maybe it was a SAG thing but couldn't they have dug up some photos of Robert and Rene from the "Family" episode to put in Picard's album?
-Paramount is still sitting on several deleted scenes that have never been "officially" released
-I don't mind Kirk's death but the filmmakers could've spared themselves years of grief if they'd let him live!