Has it been 10 years? Wow, I feel old now:)
I grew up with the OOT, and saw TPM when I was in my mid 20's, and suprisingly didn't have huge expectations like many of my friends did who anticipated this movie since 1983. I always wanted the Sequel Trilogy, and the further adventures of Luke, Leia and Han. I warned my friends in the spring of '99, "temper your expectations, these aren't the same characters, it just won't be the same. Would you want to see a Back to the Future Prequel without Marty McFly?"
How did I feel on May 19,1999? I actually walked out of the theater thinking it wasn't that bad. My friends, who were expecting the next coming were horrified and hugely disappointed, but I kinda took it in stride. I thought the movie was fun, and just felt like SW-light, but I loved the universe so much as a kid, I didn't bury like many did. I didn't like Jar Jar, or Jake Lloyd, but I liked seeing the Senate in action, Palpatine taking a hold on power, and seeing a young Obiwan was cool too.
How do I feel May 1, 2009? When you now look at it as part 1 of part 3 in the trilogy, what a missed opportunity TPM really is. Not until I saw ROTS, did you realize how much time Lucas wasted in Episode I and how it affected each movie after that. In saying that, as a standalone movie for a SW fan, it is mildly entertaining, a bit childish, and has a cool lightsaber battle at the end. Does it compare to the OT movies? Not even close.