Agreed. I don't think that Fantasmic "sucks", but then again, I have no real attachment to it.
Wishes brings tears to my eyes, and has since the first time I saw it - 4 months after my Dad died - always with my daughter in my lap (or in my arms), and my son standing in front of me.
I stare in awe at Illuminations - it is my wife's favorite show. I love the way the fire, lasers, fireworks, and music all work together to tell the story.
Fantasmic...is just like watching TV with a bit of live acting at the same time. Yes, it tells a story (although I still don't understand how the Pochantas sequence fits in). But for me, no emotion, nothing. But then, I didn't visit the Studios until 5 years ago, and didn't see Fantasmic until four years ago.
I agree with you on Wishes (no fireworks show anywhere is comparable) and Illuminations.