I'm in the process of learning the 3.5 rules after having played D&D since the "white box" rules of the mid-70s. There is a lot to like about 3.5, but there is also a lot to dislike as well. The streamlined rules take a bit of getting used to coming from the 2nd Edition world, but I can see they are simplified, i.e., the calculations make more sense. They have also done some nice stuff to make the character classes more balanced from what I can tell so far.

At the same time, the seemingly infinite number of prestige classes and other things to make characters more unique and individualized just muddy up the simplicity in my mind and promote munchkinism (and threaten that balance I mention above). This is where I have my biggest problem with 3.5. While I can see the desire to distinguish one fighter from the next, 3.5 takes it way too far in my mind. When Wizards of the Coast posts articles on their website on playing a half-dragon/half-minotaur necromancer-ninja, I just want to puke. They recently published an article on handling players who get bored of their characters after a few sessions of playing. My kids are just started playing with their friends earlier this year and they are being exposed to this boredom factor. They have played about a dozen times and started four or five different "campaigns". The players in my campaign have been playing the same "boring" characters (humans, elves, fighters, wizards, etc) for about a dozen years or more. Little do they know they are supposed to have been bored with these characters years ago... My stupid players see their characters as cherished friends with whom they have been through many fantastic adventures over the years. Anyway, when I start my 3.5 campaign for my kids and their friends, it will be with the traditional character classes and races and none of these countless prestige classes or monster races. It is the adventure and what your characters do on them that matters much more than how many special abilities (read "advantages") they have.

BTW, the claim the WotC is just grabbing for money with all the rules expansion books may be true, but TSR was no better with 2nd Edition. Just take a look at all the softcover rule booklets they published over the years: The Complete Fighter, Gladiators, The Castle Guide, The Crusades, just to name a few.