Well, here's my take. Everything is under a spoiler. (SPOILER)
The Ugly:
-- The complete lack of Snape in this book wounds me. I am dead serious. Snape is Rowling's best character. His drives, his inner conflict, everything about Snape is flawlessly crafted. She took that, threw it out the window and gave him a little chapter to explain. There was no unraveling his mystery, there was no pause for his death, and there was absolutely, positively no smurfing redemption. Snape deserved Harry's forgiveness, but I don't feel he actually got it. And his death was so cheap.

-- Speaking of cheap-shot deaths, FRED? TONKS AND LUPIN? No. The deaths weren't necessary. We didn't learn anything from them, and we weren't even given the chance to grieve them. We were just propelled onward without pause. I don't have to have a happy ending, but I demand something real. We grieved for Sirius, we grieved for Dumbledore, but we were given no shot at grieving for some of the most important and best written of her characters.

-- The Epilogue. WTF. I honestly expected something out of the movies, one of those things where they just give us bullet points on what the characters did with their lives. That's all I wanted. I didn't want something so childish and out of place. I hadn't heard anything about the epiloge before I read it, but my instant reaction to it was that it read like really, really bad fanfiction.

The Bad:

-- I felt like the Deathly Hallows were more of an afterthought than anything really important. The discovery of the story, and the talk with Xenophilius Lovegood was very interesting, and I felt gave us an interesting view into wizarding culture. But they just ended up not meaning a whole lot.

-- I don't like the fact that all the good guys were using illegal curses and no one was bothered. I understand that many times they were in between a rock and a hard place, but there was no question of regret that they would have to go against their morals in order to do this.

-- I didn't like the fact that Dumbledore had planned out EVERYTHING for Snape. I felt like some things would have made more sense had Snape worked them out for himself.

-- Percy just jumps back into the family at the end? Nah. He should've shown up at the wedding.

The Good:

-- Albus Dumbledore's story was brilliant. I feel as if it could've been better if we had been able to pick up some of the truths about him in some of the other books. I like how human Rowling made him. He wasn't a marty stu anymore. Knowing a character's pain makes them relatable. He was a weak person, he fell to temptation on at least one occasion, and he manipulated the people he cared about. But he was never, ever a bad guy. He was a good guy with problems.

-- Hogwarts as the final battle was the right move, I think. I don't think it would have meant as much to me if it had been elsewhere.

-- Xenophilius Lovegood was pretty wonderful, I thought.

-- The invasion of the Ministry was very well done. I thought all three kids shined there.

The Beautiful:

-- Ron and Hermione's relationship was the best part of this book, I think. It tore my guts up when they treated each other poorly as a result of the horcrux, and I died when Ron left. I thought it was very real.

-- Neville! There should have been much more Neville (and more Luna, for that matter), but his actions were very exceptional, I felt. I especially enjoyed that he was able to produce Godric Gryffindor's sword. In my eyes, Neville has always been the embodiment of what it meant to be a Gryffindor.

-- All of the cultural references, from wandlore to wizarding racism were written excellently. I especially liked Griphook.

-- Harry's revelation in limbo was very moving to me. Dumbledore's honesty and shame, Harry's awareness of self and his completeness as a person, coming full circle as a wizard were very well crafted.

-- The final showdown with Voldemort was good. I especially liked that the characters were so true until the end. Harry never took a killing swipe at Voldemort, he just disarmed him. Voldemort brought about his own end. I do wonder what they did with the body.

-- Dudley shaking Harry's hand. Even though he was spoiled, slightly stupid, and violent, he understood more than most how truly important Harry was, not because he was the Boy Who Lived, but because he was a brave human being. I was very touched by that.

Overall, I wasn't terribly impressed with the book. I did like the ending (not the epilogue), and I felt everything up til Malfoy Manor was beautifully done. It was captivating, engaging and very moving. I kept mentioning to my boyfriend that the book really tore me up inside as I read the first half in the wee hours of Saturday morning. I took a break for Saturday to celebrate my birthday, and polished the book off this morning. It may have been the speed at which I was reading, or perhaps the fact that I took a break, but I sincerely felt like I read two completely different books by different authors. The beginning to the escape from Malfoy Manor was excellent. Everything after that kind of fell apart. The pacing was bad, the characters stopped making sense, and I started losing my connection to so many of them not because they behaved out of character, but because we never got to see their reactions. I think Rowling made a mistake in going forward with this book. I saw at least another year of editing, re-writing and re-thinking when I finished it. I don't hurt that it's over, though. I am happy that they've made their world safe; I'm happy that they finally get to live in peace.

EDIT: Oh! I remember reading something about JKR saying at least ONE of the deaths was something she didn't plan for, and was actually surprised by, but she wouldn't say who. Who do you think it was?