Honestly, this review, minus pronouns, could have filled for any of the other four Star Wars films or just about any science fiction film such as the Matrix. Neat concept, good story, excellent effects, bad dialogue and mediocre delivery.
When I remember Episodes IV-VI, I remember the overarching themes (good vs. evil, the redemption of Vader, the Dark Side as a temptation) and the out-of-this-world special effects (for its time). You don't generally remember the annoying whining of Episode IV-V's Luke, or the bad delivery of Carrie Fisher ("But!These!Are!My!Friends! C3PO, tell!them!..."), or the incredibly cliched dialogue ("'This is your idea of a rescue? Some plan!' 'He's the brains, sweetheart!'")
So, what did I watch and enjoy about Episode II?
1. The decline of a republic into a dictatorship.
Lucas has made the comment that every democracy has historically turned into a dictatorship (possibly paraphrasing John Adams). In Episode II, continuing where the first prequel left off, Lucas shows us how Palpatine manipulates and maneuvers the Trade Federation and the Separatists against the Republic, through himself and his agents, to the point where the Senate basically just hands him the reins of power in a bloodless coup. And you wonder, when a large majority of people post-9/11 favor giving up some liberties for security, how this story is relevant?
2. The Romeo-and-Juliet tragic romance.
Sure, the romantic dialogue is contrived and cliched, but isn't that the point? We have two overly-sheltered and emotionally underdeveloped teenagers seeking the company of an attractive peer, when all their life they've been stifled and repressed by their respective occupations (politician and Jedi). It'd be more jarring to watch them spout dialogue worthy of a literary classic, rather than the overused and tired phrases that teenagers use. They live surrounded by adults and have been forced into adult roles that they aren't completely ready for. They fall into each other's arms, like Shakespeare's couple, not so much out of true love as for the need for a change from their otherwise stunted emotional lives and a sexual awakening. We see how the same recklessness and arrogance that drove Romeo into tragedy drives Anakin to his. Padme as Juliet is wise enough to know that their relationship is doomed from the start, but she is a slave to her emotions as much as Anakin is to his.
3. History doesn't repeat itself, it rhymes.
Watching and comparing the developments of father and son, you can see similar themes and traits, yet they turn out much differently. Anakin disregards his duty when faced with a vision of his mother in pain and falls to the temptation of the Dark Side. Luke disregards his duty when faced with a vision of his sister in pain and nearly falls to the Dark Side, but escapes. Anakin is characterized by his recklessness, selfishness, and anger, and eventually his darker side consumes him. Luke is characterized by his recklessness, selfishness, and anger, but at the pivotal moment when he is faced with a choice of killing Vader out of vengeance, he pulls back.
4. Filling in the undercurrent for Episodes IV-VI.
Certain parts of the original trilogy don't have much meaning before watching the relevant portions of the prequels. For instance, hearing Vader proclaim that he is now the master of Obi-Wan doesn't really hold any emotional weight (he is, after all, the Big Bad Guy) until you see the constant chafing of Anakin under Obi-Wan's tutelage, Anakin's portrayal of Obi-Wan as a master who's never satisfied with his progress, and (presumably) Obi-Wan's and Anakin's duel in Episode III, when Anakin loses and falls into lava. Or hearing Yoda in Episode V chastise Luke as arrogant, and too old to begin the training, and seeing in Episode II both the problems those same traits give Anakin and Yoda chastising Obi-Wan for being arrogant as well. "So was I, if you remember," Obi-Wan retorts in Episode V.
5. Oh yeah, the fight scenes.
Basically, everything that was great about the original trilogy is still just as good. Everything that was horrible about the original trilogy is just as bad, only this time, we're seeing it not as the children we were but as adults with wildly overinflated expectations. Consequently, all of the bad parts that most people don't remember about the original trilogy are touching an especially sensitive nerve, as they were expecting the Star Wars that they remember through the rose-colored lenses of nostalgia, and not the real Star Wars.