I'm one of the people who hated the 3e options for a fighter/magic user hybrid.
The swordmage is nice... but its not what I wanted. It is, however, what a lot of people I know wanted, so I don't begrudge it.
The problem is that there are a lot of versions of a fighter/mage out there in people's minds. You've got:
Guy who fights and casts spells in equal amounts, but does so completely separately. When he fights, he fights like a fighter. When he casts spells, he's tossing around fireballs like a wizard. And ne'er the twain shall meet. 3e version: a few generic multiclass fighter/wizards.
Guy who casts lots of spells and then fights with a sword as backup when he's out of spells. 3e version: almost all multiclass fighter/wizards, due to players realizing once they're multiclassed that +1 caster level is better than +1 BAB.
Guy who mostly fights like a fighter, but occasionally casts one or two spells that facilitate his melee fighting. 3e version: hexblade.
Guy who fights in melee while using magical powers expressed through his melee combat. 3e version: duskblade, sort of, the desert wind and shadow hand disciplines, definitely, and a few PRCs that made nods to this idea.
The swordmage is that final version. Which is cool and all, but I tend to prefer the one above it, and I tend not to like traditional D&D style arcane magic. Its too theme-free, with every type of spell thrown into a massive pot and stirred. You can use it to make themed spellcasters (a swordmage who uses cold powers, for example), but the system works against you at every turn.