Hmm...
Tough question.
I think there have been quite a few cutscenes that I have enjoyed. However, I'm not so sure I really enjoy them that much anymore. Graphics has almost entirely stopped having a "wow" effect on me, so they loose out on that point. Stories in games are usually pretty bad, and cutscenes do not really help with that. Also, they are not interactive, which means that any cool thing a character does during them is something I would have liked better to do myself.
Therefore I think that cutscenes are nowadays mostly irrelevant, and a lazy mans solution. Just look at Valve, and to a point, Ubisoft (to a point since they often mess up with telling a story without cutscenes).
I realise that in certain games it's almost impossible NOT to have them, but unless they actually add something to the experience they should be avoided.
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