I really like it. The restrictions on movement in 3e was something that annoyed me. The idea that you can't move attack move in a single turn is just downright silly.
I'd say that the idea of turns is what's silly, and the rules for actions are just a way of coping with that. It's pretty silly that you'd move 15 foot up to someone standing ready to block you, then another 15 feet past, get an action to do what they were trying to stop you doing in the first place (e.g. attack their spallcaster friend) and only *then* do they turn around, run up to you and get you back!
Usually I find move/attack or attack/move represent the limitations you'd expect (of having trouble moving through or disengaging from a fight) nicely.
I agree the 3.5 and 4e rules get annoying when you feel a character should be capable of something more dynamic. But this has been addressed in those games - hence 3.5's feat fix of Dodge/Mobility/Spring Attack, or the many attack/bonus move combons in 4E. The problem being extra rules to track.
The limitation gets really annoying for me when the action that ends the move should really be something a lot less fiddly (e.g. you start your turn one square away from a door, with two weapons equipped, and by RAW have to take a step forward, sheaf a weapon, open the door - what a boring, book-keeping turn!)