Personally, I don't like Twilight. I was forced to read the books by my ex girlfriend. (In case you're wondering, Twilight is a part of the reason we aren't together. And I've never been happier to not be with anyone.)
First, the good. I found the history and the concept to be very interesting. There's a lot of potential history that could be explored, that could be done very well, and the concept itself is interesting, I think.
The execution is just flat out awful. First off, Mrs. Meyer, we get that Bella is plain. Thanks for telling us a billion freaking times in the first book alone. Second, if Bella is so plain, why are there multiple (5 or something) guys who are all described as insanely hot attracted to her, and competing for her attention?
Third, Edward is a fucking creep. He says that he's been staring at her in her sleep for months. He likes the way she smells. Basically, he's a stalker. Fourth, Jacob. He is the biggest douche ever. I say that because, however much I dislike Edward and Bella (who are NOT in love), he's still trying to get in Bella's pants, knowing that she's with Edward. I hate guys like that. Well, that's personal experience. Being cheated on sucks. But still. I hate Jacob.
Fifth, Edward and Bella. THEY ARE NOT IN LOVE. Edward thinks she smells nice and wants to suck her blood. Bella thinks he's the most attractive guy on the planet, and he's all mysterious or some crap like that. That's called lust. They spend the entire series wanting to fuck each other's brains out. Then they do. And have a mutant baby (how does Edward even get it up?!).
Sixth. Renesme. Seriously? Really? You could at least throw a bunch of Scrabble pieces around and get something less retarded than that.
Seventh. The writing. I'm not going to pretend like I'm a great author, but I sure as hell know Stephanie Meyer isn't one. Half of the series consists of Bella is plain. Edward is hot and his skin is cold. Jacob is hot and his skin is burning hot. The end.
I could go on and on... I have, actually. For nine pages. Comparing HP, Twilight, and The Eye of Argon. Here's an excerpt: "To start, Bella loves to whine. Really, she does. She does it every time she thinks Edward might leave her. And with all the talk of her being plain, she sure is popular with all the guys. She had what, 4 or 5 after her at one time? Yeah, plain. Oh, and another problem I had with Bella is that she's pretty emo. Seriously, when the book starts, she's crying for no reason. Seriously. No. Reason. I'd list a redeeming feature, but she doesn't have any. She's just a terrible person."
If you want a piece of crap that's entertaining, read The Eye of Argon. That's some good quality entertainment.
As for HP... I think they're written much better than Twilight (not that that's saying much). I find the history/concept to be very interesting, and I really enjoy the books.