Saw it today. The only SW films I've seen on the big screen in the past were ESB ('97), AOTC, and ROTS, but seeing as how I was born in '92, ROTS is really the only one I could remember the big-screen experience of (I'm a life-long fan, I guess I just didn't know about the Special Editions except for my dad taking me to see ESB, and I was too scared of Darth Maul being cut in half to see TPM, lol).
ANYWAY, no matter the content of the movie itself, seeing "A long time ago in a galaxy far, far away...." in a theater, along with all of the music and sounds I love so much in such amazing presentation, was AMAZING. Phantom Menace or not, it was still Star Wars. I know Adywan had commented that the sound mix was very poor, but for my presentation every lightsaber clash caused the speakers to vibrate, and hearing Duel of the Fates fill the entire auditorium made chills go down my spine.
I don't mind the prequels as much as most here (they aren't anywhere near the quality of the OOT, but on their own they aren't AWFUL, just compared to the originals they are). So seeing a movie I've known so well for so many years in such a grand format was extraordinary. Very, very exciting!