I enjoyed it quite a lot.
The stuff they cut out was stuff I didn't miss in the least. All the house elf stuff, didn't care, I was very glad they cut out most of the Quidditch World Cup because that bored me to tears in the book though they might have cut too much of it, and most of the stuff about the giants, didn't care and didn't miss it. I really liked the characterization of Mad Eye. Ron and Harry...yeah getting to be obnoxious teenagers but it worked for me better in the movie than the books (didn't care all that much for bookx 4, 5 &6 to be honest).
About the only thing I didn't like was more cinematography than anything else. The maze and the graveyard were too dark. Yes they were supposed to be dark and creepy but we crossed over to WTH was that. I can't see.