The only issue I've had with the LFR so far has been pulling before anyone had the time to either read, ask, or actually explain. Not very dramatic, though, since the difficulty of the fights actually allows for those things.
What I don't like so much is that the whole thing doesn't feel like actual raiding, but instead like a bunch of VoAs and BHs tied together.
The benefits far outweigh the negatives, though.
No matter what time it is, what spec you're in, and how good or bad you skills are - there is a place for you.
No loot drama involved either. See something you like, hit the "Need"-button, and the system will sort things out. It doesn't seem right when people end up winning more than 1 roll on a single boss, so I think somehow they should limit that. But given the overall feel of a loot piñata, it doesn't even matter all that much.
Oh... and the whole "LFM for whatever-raid, have whatever achievement and ilevel and have yourself inspected"-crap has pretty much disappeared from the trade channel. That alone is plain awesome.