I really enjoy Mod 5 myself. I like Fleshmakers, I like Inferno. I like how even though it's a mod based on undead, there's still a bunch of humans around to offset it. It's also well designed with some great static rewards.
But there are issues I have with it, and I think other people do as well. First, the raid is still fairly unbeatable. It seems most people on our server have given up trying it, with the exception of a PUG and a few guilds. It's sad that a high level raid is essentially going unplayed, as it's wasted content right now. I won't go into the all details of it as it's been discussed every where, but I know a big resentment against Mod 5 is it's raid.
Second, while the static rewards are nice, beyond the tapestries, they're very difficult to get. They require a vast amount of looting to get each piece, and with eight pieces to get for the shields and weapons, it's going to be months before you start seeing the more casual players having one of these. It's also slightly annoying, to me at least, that the helm designed for sneaky folks is rather lame both in stats and design.
Third, Mod 5 didn't have any level cap raise, new playable race or class, or really anything other than a new set of quests, slight game mechanic changes and a few more spells and enhancements. There wasn't really much there to keep people playing once they beat the quests and got the loot they wanted. I know myself it's very disappointing that in nearly 2 years since DDO released, there has only been 1 new player race released, and it was drow, the easiest one of the bunch. Monks are still a module away (perpetually it seems), druids are on hold indefinitely due to their inherent problems of shapeshifting, and beyond a few murmurs, who knows where Gnomes, Half-Elves, Half-Orcs, or any Ebberon races or classes are?
And that doesn't even mention a whole slew of other things that have been missing. Player Houses, Guild Houses, PvP leaderboards, Crafting (yes, I know it's coming soon(tm) ), Prestige Classes, new weapons, ect. Yes, many of it's all been commented on, and I appreciete the devs taking the time to discuss what's involved, but it doesn't make up for the fact that we still haven't seen anything like it yet, or have any clue at all when we might see it.
Now, I still love the game. I love the Wilderness Areas that have breathed a fresh breath in the game and how to get to quests. Quest designs as a whole have improved greatly since Mod 1, and even rerunning them they still continue to impress. There's been many great additions, like the Favor System, In-game Mail, Auction House, Enhancement System remodel, and more. It's just been such a long time since the game as been released, and many core things are still missing, especially core things from PnP.
That's all I really wanted to say. Thanks for reading my semi-rant, and please post your own feelings below.