For the most part I have been very happy with 3e, much more so than 2e. Granted there is a surplus of core material out and much of it is mediocre at best, but you see that in any system (except Serenity), plus I think WotC has done a great job in keeping the reins tight when it comes to campaign setting specific material. The optional core material is just that, optional and you don't have to buy it. However, having the extra supplements so that you can pick and choose material that may be of interest/use to you is always nice.
Now as far as the campaign setting specific material, from what I have seen it is, usually but not always, superior in quality to the core supplements. Instead of having 30 settings with tons of crappy supplements, they have focused on pretty much 2 primary settings, FR & Eberron, and tried to put out quality material for them, IMO. Since we usually only play in Eberron, Wheel of Time, or my homebrew world this works well for my group. For the most part we focus on the setting specific material and ignore the rest, unless something really piques our interest or seems useful, then we may check it out, such as, Book of Vile Darkness or Exalted Deeds which we liked.
But overall I think that WotC has done a better job than TSR when it comes to supplements and although I would like to see more material for Dragonlance and at least one more original setting, I can't complain with the way they have handled FR & Eberron, so far.
WotC still has a long way to go before they are in the same rut as TSR. They've been smart enough to run the company as a business that tries to put out what fans want, rather than a bunch of gamers who put out what they want. While some may disagree and I specifically may not be interested in or even like a supplement, there are players that do. Which is why it is nice to have that option.
