Hey you! Jumping in on my gaming debate indulgence! haha

Ok, to your points...
Some of the challenges of 3.5 is what made it fun. There was real resource managment going on with the spell casters. Some people find that kinda frustrating, but I liked the strategy of picking spells. Do I need waterbreathing or feather fall today? There is little-to-none of that in 4E as far as I can tell. And that kinda turns spell casters into a fancy long range fighter, imo.
There is plenty of resource management, try playing a 9th level wizard vs a 1st level one, and check it out.
On the flip side, the fighters and fighter-like folks have some interesting abilities which add some flavor to BDF's. Though, some of them take serious suspension of belief, even for DnD, but I can roll with it. (Okay, so if you hit, then your budy across the room get's healed by it... um, sure. Dunno how the hell that would work, but it sounds good for me. I'll guess I won't say no.)
You have to get over hit points as actual physical damage. Hit points are moral, drive, physical strength and more all rolled in to one. I hit a monster, and you get a surge of Adrenalin as the combat is swinging in your favor. I look at a lot of hit points as moral, and moral is a huge part of any conflict.
Working out combat seems pretty similar to me when it comes to "simplification". You are still scrambling for the pluses (ok - plus 1 from the warlord, plus 2 for combat advantage, ... um... plus... um... anything else guys? common I just need one more point!!)
Combat in 3.5 is a lot more picky about all the AOOs, cover and other stuff. 4 is more too the point but I think without over simplifying the tactics.
Some stuff I like is not running out of spells, and not needing to rest for the day after the first battle. That's nifty, but you didn't need to overhaul 3.5 for that. You could do that with house rules.
Agreed but its better that they are part of the system from the get go.
The ONE THING that TOTALLY GETS MY GOAT is the Per Encounter and Per Day abilities. I've played probably 6 games so far, and ONLY HIT WITH MY PER DAY ONCE! ONCE! WTF is that?!?! I've probably only hit twice with the Per Encouter powers. That really, REALLY pisses me off. It's sooo frustrating, and such a freaking tease. Why even have them if they hit less than 1/2 the time? (my dice are also very close to getting punished in the microwave)
I've never had this problem and remember as you go up in levels you get more encounter and daily powers. Think how lame a 1st level 3.5 spell caster is heck, any low level caster in 3.5 is bbbboooorrriiinng.
We haven't been grappled yet, or had to Turned Undead. I suspect it's much simpler now, and I would be surprised if I miss those rules. They were like doing your taxes.
Agreed.
For folks who say there's no roll playing - it's there if you WANT it, and it always will be. Talk in silly voices and have elabrate plots, and in that way roll playing cannot be taken out of paper-n-pencil DnD. I think the issue is how it's under-emphasized in the book. (oh don't get me started on that book - one page for an index? you're f'ing kidding me. But 3.5 indexes never had what I was looking for either. It's a wash.)
I really think the new books are some much more logically laid out. No more flipping through multiple sections for related materials and worse book to book! Role playing does not need rules...The DM guide is a great book for how to role play in your game. Better than the 3.5 DM I think.
So, some pluses, and some minuses. But, sometimes I kinda do miss 3.5... Maybe it's time to take a closer look at what Monte Cook's been up to...
For me 4E is a better game, I don't care if it was called small caves and furry rabbits, it would be better than 3.5 to me.

For one thing the balance on player imersion and involvement is just so much better in 4E, I think the game just plays better.
Doing a 3.75 just seems like tape on a broken record to me... but I'm open, maybe I'll try it one day.