So, got back from seeing it, as it's just been released in Oz. And...overall, I thought it was "good," but it's with the caveat of being a very flawed "good."
What others have pointed out is the issues with the story. There's the big one, what with Blofeld's scheme/background being one of contrivance, but there's multiple smaller leaps of logic as well. How does Bond steal the car? Why do the Spectre thugs drive all this way to kill Madeline before doing it just out of sight of the resort? How did Mr. White build a safehouse inside the L'American? How did the hotel react to Bond breaking everything? How did no-one notice the train fight? Why did the thug try to kill Bond when apparently, Blofeld was happy to let Bond come to his base anyway? Why did a single gas explosion knock out the entire facility? How did M and co. gain access to the new building? Why were no security in the new intelligence building? Speaking of intelligence, in what kind of world would the UK and China share it? Why is Quantum of Solace given minimal reference when compared to Casino Royale and Skyfall? Yeah, QoS was lacklusture, but that doesn't mean it should be forgotten.
And yet, I enjoyed this film. The action was good, the cinematography was good, I liked the characters, and I actually think it did a good job of merging old and new Bond, and if anything, Blofeld's base symbolizes this. Similar to old Bond, this is very much a villain's lair. On the other, its purpose is to gather information, not be the headquarters of a death laser or anything. It's a concept born out of the 21st century, merged with elements of the 20th. And that's added to the side characters like M, Moneypenny and Q taking a far more active role, in a way that I was actually reminded of Rogue Nation (which, among other similarities, also ended in London, and also dealt with information control). Not that this was a bad thing.
Taking Spectre by itself, it does feel like the end of an era, how Bond apparently retires (yeah, we'll see), and while some of the connections are forced, it does tie up a lot of the plot threads that began with Casino Royale. So, yes, I enjoyed it. It's not going to change my top 3 Bond films (GoldenEye, Skyfall, Casino Royale), but it's a far cry from the likes of Die Another Day, Diamonds Are Forever, and Quantum of Solace (probably my bottom three).