What I don't like about Twitter is the incessant navel gazing (tweets of the "why hasn't he called?" ilk).
What I LOVE about Twitter is the ease with which it levels the playing filed for the sharing of ideas and information. People rich and famous to, well, me, can post something on Twitter, (potentially) gain a following, and disseminate information. Provided it can be shared in 140 characters or less.
The bandwidth restriction is something else to love, in the same way as it is for text messaging.