I first saw the theatrical cut on video. I honestly only dimly remember the experience - it was the mid-nineties and I was renting a lot of Star Trek on VHS, typically the movies as I couldn't get those on TV. And there were like, eight of them. This was the one with the weird suits and I remembered most, for some reason, the asteroid/wormhole bit and the light show that kills Ilia.
As far as reviling goes, I pretty much saw that get overturned on this board. There were a handful of TMP fans were sort of assailing the notion it was terrible back at the turn of the millennia... and I really wasn't one of them. I hadn't been at all impressed with the film on that single VHS viewing, though I have warmed to it since getting the DVD way back when (almost nine years now, egad). I have also gone back to see the original cut again and I do understand the problems people have with the director's cut, though I mostly prefer that one (there is really not a big preference either way, though.)