I'm not fond of 4e. I played 1e, 2e and 3e. I see how 4e evolved and why it was designed the way it was. For the goals they had, they did a good job. I just don't have the same values.
I don't value balance above all. I don't like rigid class frameworks. I don't believe high level characters should be good at everything.
I understand the issues with high level play but as a DM, that's the "big leagues." If you can keep your setting coherent, rational, and functional without constantly nerfing the spells you are an 18th level DM. Have a cookie while doing your game prep.
Part of it is the realization I couldn't re-run my recently finished 3e campaign under 4e without a near total rewrite. (A godswar had restricted all magic to <=2nd level and dragons took over because without magic the races of man couldn't pose a real threat). In 4e what does the loss of magic mean? Okay, I've kicked wizards, clerics, and warlocks in the vitals. Fighters, rangers, rogues & warlords are now able to do dragon-killing attacks and will heal up on their own just fine. That or I have to majorly overhaul the entire game system. Double blarg.
There's nothing like realizing a campaign you ran for ~7 years and 24 levels is almost conceptually incompatible with a rules system to make those rules unappealing.
I must confess that part of my 4e dislike stems from the terms of the GSL, the timing of the GSL release, the way HasbrWotC dropped PCGen support, a lack of printed Dragon and Dungeon magazine, and the utterly less than impressive Gleemax/DDI. It was like they looked at every ancillary aspect of 3e that I used and eliminated it. (For the record my 3.x game shelf is ~90% WotC)