I did read the entire run, but generally had the same complaint about the Post-Infinite-Crisis run.
Too many non-legacy characters that weren't even given any development (Ri, Red Beetle...) diluted the concept.
Also disliked Ma Hunkel's corporate suit look (she lost all that made her charming). Cyclone was the only good "new" member that I enjoyed.
Storywise, I wouldn't have minded the Kingdom Come storyline if it had been half as long. By the time we hit a year on that interminable story, I was really only paging through each issue looking for the start of anything new.
But all that said, I'm optimistic so far that the Doomsday Clock clues indicate a history true to their golden age history and the way we remember them, not some scatter-brained revamp.