I definitely gotta say it is my favorite of the three, and no the combat isn't that bad, it's built around being an rpg, not a shooter (opposite of me2 and me3, which is fine in hindsight)
Pros:
-the story is crafted way better than the 2nd and 3rd game, and better than most games I've played this generation, all the characters really compliment the atmosphere and overall scope of the story.
-Characters, needs to be said again, they all have their strengths and this is where you meet some of the companions you'll have through the next 2 games
-the amount of choices you have when it comes to customizing your character, powers/abilities/armors/etc..
Cons:
-the sidequests can be pretty dry at times, so don't go through with many of those unless you really are a completionist
-the mako can be quite clunky at the start, they should've taken some hints from star fox 64
-the amount of items you pick up would fill Scrooge McDuck's vault, and that's saying something.
-the game starts off pretty slow, until you become a spectre prepare to wade through it a bit.
Neutral:
-If you play it right, you can become an overpowered monster by the end of the game, with the guns/abilities I had, I was literally sprinting through entire waves of enemies with my assault rifle.
-While there are shit tons of items, this gives you lots of ways to customize you/your teammates, so it goes both ways
-Some people hate a voiced protagonist, but I think it works great for ME (fuck all you mark meer haters, male shep!)
it just doesn't do the series justice unless you play the first one, i promise you that.