Before I jump into this, I just wanna say that Metal Gear Solid 1 had the best mix of gameplay and storyline/exposition/cutscenes. By MGS2 they were already well on their way to Hell for making more cutscene time than gameplay time, and half of the time the gameplay wasn't even worth it. And tits don't make a confusing story great. *is looking at MGS3 and 4*
Anywho, I do like a good storyline in a game, even ones that don't have a whole lotta "meat" to them like DOOM (old ones) or various Mario Brothers games. I liked to read the manuals for the background story which is sometimes the only story in them, as well as the character bios/backgrounds which tell me more about the people I'm playing, saving, killing or ignoring. I miss the days when manuals were in ONE language *glares at the Wii* and included a nice background story/recap, detailed information about the main characters/villians, and explained what certain things did with a cool hand-drawn pic of items or list of spells.
And to the person who said they wanted to recapture the PSO experience.. gods, I still can't believe they did that to the Phantasy Star series. It used to be such a good series with a compelling storyline and characters I cared about. Then it became another MMO with identical characters, exaggerated features, and storylines that never really ended... but enough about my dislike of MMOs.
When I play a game, I want there to be SOME story. I mean even if it's a game with NO storyline, at least include an opening and an ending... even if it's just during the credits as they pass by with the characters walking home, etc.
But yeah, too much exposition is not a good thing either. I'm on the edge with Dragon Age. I kind of like it, but like the later MGS games, it feels bogged down by far too much exposition than was strictly necessary.
Oh, and sections where they just dump exposition sometimes give me a break to use the bathroom or give my hands a rest from mashing the X button or shaking the Wii Remote. Unless it's just that damn engrossing, in which case I'm glued to the screen.