I hate Feats. I remember when 3e came out and I read about Feats and thought "That sounds awesome! How modern!" but it wasn't. It was horrible. Then when I read up on 4e, I thought "It sure sounds like they fixed Feats! Awesome!" But no. They made them even worse. It was where they moved all the fiddly to.
I knew what I was going to respond when I opened this thread, then I found you beat me to it!
This is absolutely my experience as well. On Paper = Totally Awesome! In practice...yuck.
I think I would vary from most on this thread though in that my thinking has come full circle...I dont even see the need for feats in the game, at all. Hindsight has taught me that, whilst they allowed customization, they didnt really add to the experience, they just added to the mechanics. (disclaimer : This was my experience, yours may very well have varied, and more power to you if this is the case)
To me, I would like to see an end to "mechanical" customization, and see the growth of "thematic" customization, a focus on making characters interesting rather than making them complicated. I want simpler rules with a richer characters.