Tar me and feather me with Ewoks if you will, but I don't think they were bad movies - just not awe-inspiring. Anyone who calls them "bad" is really missing economies of scale, here - it's like calling the Millenium Falcon and the Death Star "big ships."
The most hurtful thing in both is the lack of passion in the characters, or in some cases, misplaced passion. (Strange that I should comment on this when the story is about JEDI, who aren't exactly passion-fonts.

) Hayden Christensen trying to speak in Obi-wan's stilted style is part of the problem, and makes him sound pretentious, when the character is supposed to be anything but. Just as Ewan Macgregor and Liam Neeson had their style differences, and Marc Hamill and Sir Alec Guiness had "old world" and "new world" going on, The fact that even when in anguish Hayden parrots Ewan's style doesn't do him well. I'm hoping what we will see is expression using Christensen's own experience - he's from British Columbia, so I'm not quite sure how that should sound...
The storyline in both were not horrible on the surface, but for some reason just didn't make me CARE. While it had its moments, it was generally hurt by STARTING on Coruscant and dwelling there for a long time. If they wanted to tell Anakin's / Padme's story, they needed to begin on Naboo, and move from there - the fact that it was as whirlwind yet passionless as it was did not make it believeable to me.
Phantom Menace I had far fewer problems with. The biggest upset was the lack of meaning in the battle on Naboo, and the length of dwelling time spent on Padracing that could have been used to dwell on Anakin's training. In the end, I liked the imagery, but the pacing was off to me.
Oh, well. Star Wars rants will come and go, but We'll see next year if Lucas has hit the money. He's done some good work in the past, and it's not like HAN SHOOTS FIRST, or anything...