I enjoyed the movie when it came out, and I occasionally enjoy it now. The lightsaber battle at the end, and the accompanying choral music, is exciting and well choreographed. It is nostalgic to see Tatooine. The villain has cool makeup.
However, I have never thought it was a good movie. It baffles me that someone who isn't already a Star Wars fan would want to see it more than once for the eye candy. The characters in it are utterly wooden and lifeless. Much of the movie is a bureaucratic bore, and everyone in it looks depressed. It not only has zero character development, it may be the only movie I have ever seen that makes no apparent attempt at character development. The only character in the movie with any personality, emotion, or development whatsoever is Jar Jar, which is pretty sad.
And when comparing against the performances of Alec Guinness, Peter Cushing and Harrison Ford, and contrasting the main non-human characters R2D2 and C3PO vs. Jar Jar, TPM becomes quite a reach to even compare against the OT by any serious moviemaking standards. I would even go so far as to say that TPM has hurt the general public's image of Star Wars, by moving the franchise from the realm of moviedom to the realm of computer-based kiddie fare. The AFI might put Star Wars in their top-20 films of all time, but to most people you say Star Wars and they think light futurama video game pablum, and we have the PT, especially TPM, to thank for that.
That perception could be one of the reasons that more people aren't upset by the lack of restoration of the OT. Something like TPM, most people wouldn't care if its theatrical release is preserved or not. They'd say, "it's just a movie". But I'm not sure many people who blurt that out if the topic were preserving "Citizen Kane", or "Casablanca". Nor should they about "Star Wars", and yet they do. And that too is something for which we can thank the PT, particularly TPM. Most people no longer awe at Star Wars, they chuckle at it... because Star Wars is no longer a great movie, it's a pod race. That's why I appreciate this board, because it is populated by people that for the most part appreciate what made the OT (at least SW and ESB) among the greatest movies ever made and want them preserved as are all other similarly great movies.