I have no problem with timers as long as there is no reason to explore then enviroment during a timer section, and to be honest there were a couple points in the game where I though ME2 could benifit from them.
You might only be talking about the action set pieces, but if you expand upon that and comsider the combat as a whole a action element I think ME2 offers a great and unique experience. The reason I think ME2 did a great job with the action is due to Biowares ability to mix gameplay styles. Lets get one thing clear any "action" experience that allows you to pause is a different type of action experience. When I pause the game lock on three different powers and unleash them in a moment of of mayhem it is no way a action experience, its purely tactical at that point. There is the illusion of action when the results take place, but in reality the system I used to unleash them is turn based/cooldown based. When I'm without my powers the game provides a solid 3rd person shooter that is enjoyable yet not really the best of 3rd person shooters. The reason it works so well for me is the flow between these two elements. RPG's have had a hard time meshing turn based and live action combat forever and ME2 does it better then any action rpg I have ever played. Compared to a game like Fallout 3 ME2 combines two different styles of gameplay so damn well.
Having nothing to due with your point although worth mentioning, what makes the Mass Effect series so great for a lot of gamers, my self included, is the story and the characters. This doesn't make the combat/action immune to critism, just though that point was worth getting out there.
