I liked the old EU.
At the beginning it felt mostly like "Sith of the week". Some stories were good, some stories were bad, but none of them struck me as memorable.
The Thrawn trilogy felt like the first time they were telling a story that has lasting consequences.
Same with the NJO. I liked the Vong: finally a new enemy that was able to significantly challenge Jedis without being Sith or some variation of Dark Force users. I agree that it could have been trimmed down some, but at the same time I remember that when I read them the ending felt a bit rushed. The Vong went from being an unstoppable force to completely outmatched in 1-2 books.
My understanding is that it also suffered from Lucas meddling into it.
I didn't follow much what was published after the NJO. What few things I picked up felt like a rehash of previous stuff, especially Jacen arc.