I like them. There's a certain charm to them, and the way the videos were integrated with gameplay varied greatly, sometimes displaying a great amount of creativity.
Weirdly, utilizing FMV would probably be more feasible nowadays than in the 90s, thanks to the much lower costs for video production, means of data storage that aren't anywhere as limited as CDs, and the constantly skyrocketing costs for creating pre-rendered CGI or in-game cutscenes.
Elmofongo: Eh most of them were crap. Besides Wing Commander 3 and 4 the only good one I can think of was Daggerfall's FMV:
Personally, I think a lot of them are better than their reputation, although the cheap Dragon's Lair knock-offs that had basically no interactivity were rather numerous and awful.
Here are some that I like quite a lot:
Realms of the Haunting
Normality (uses the same engine as Realms of the Haunting, but all its FMVs are CG animated, so it's not as noticeable)
Mega Race
Crusader: No Remorse / No Regret
Dragon's Lair (say what you will about its simplicity, it's a fairly entertaining game, especially Dragon's Lair 2)
Star Wars: Jedi Knight - Dark Forces 2
Harvester
Alan Wake's American Nightmare (not strictly an FMV game, but it made great, continuous use of the medium)
Toonstruck
Command & Conquer series
Phantasmagoria: A Puzzle of Flesh (not that great a game, but a pretty interesting B-movieesque horror experience with fairly high production values; gameplay-wise it's more akin to visual novels than most point & click adventures, though)