Let me start by saying this: I was first introduced to Star Wars via Phantom Menace when I was 7 years old. I didn't know anything other than space samurais battling evil robots and aliens with magic powers and seeing a cool version of car racing. I was a kid and I LOVED it. I immediately went home and watched all three videos of the original trilogy that my parents had and, well, didn't like them that much because they went over my head and, while I'm being perfectly honest, the fight scenes weren't as well done as the Darth Maul duel.
Now that I'm older and have a better understanding of story and characters, I sort of regret having watched the prequels, but I never thought of them as bad movies. They just weren't as good as the other Star Wars movies and if they had just taken out Jar Jar Binks and didn't make them under the name of Star Wars, maybe people wouldn't hate them so much and just realize that they're popcorn movies that have some above-average moments and a slightly interesting, though formulaic, political intrigue spin on an old space opera style.
Oh, and I would be ashamed if I didn't mention how awesome John Williams's score is.