It has taken me three attempts at playing Resident Evil 4 (twice on the Gamecube and now on the Wii) before I finally realized that everyone was right and I was wrong. Resident Evil 4 is a fantastic game.
I love the aiming the gun with the remote. While Nintendo did a good job of translating Twilight Princess from a GameCube game into a Wii game, Resident Evil 4 gun battles feel like the game was designed from the ground up to be played with the remote. It's easy to switch between targets quickly and "juggle" a group of oncoming cultists/zombie/crazies through quick kneecap shots. Capcom plays the tension of "too many zombies, not enough ammo" like a violin.
Other aspects of the game lack the elegance of the aiming; the inventory screen is obtuse and frustrating by using some rather obscure buttons (the + and the 'c' button). It certainly doesn't ruin the game, but it's a missed opportunity to not use the remote to drag and drop in the inventory screen.
Anyways, there are pages and pages of people praising Resident Evil 4 and I wanted to add my voice to the chorus.