Be prepared for a mammoth post here. I'm giving all of my opinions at once rather than spreading them out across multiple posts. So bear with me, or don't bear with me and skip the post.
Okay, so I've only watched videos, but I think the ride itself looks great. Impressive AAs, especially that first Olaf, which I thought was just part of the screen because it's so fluid. There's a good pacing to the ride. And I mostly understood and liked what story there is to it, after listening a few times. Something about the ride feels more right than it should.
Complaints? Well, I don't understand why there is video of Elsa flinging herself across the walls in the tunnel part. I think that's a bit cheesy. Also, Olaf singing his song about summer feels a bit random, and the ending could be more unified and clear. That's about it though, other than what I'll say below.
There are three major problems, which have been beaten to death, but I do have some positive things to say. Those problems are theme, capacity, and ride time. I'd put them in that order.
Theme. We know it doesn't really fit. But I do think the premise of visiting Elsa and then exiting back into their summer home (which is actually Norway, or at least it is in Epcot) is as good of an idea as they could've done. It also acts as a lead-in to the summerhus village and meet and greet. I would've supported a ride that was more focused around Norway, but I knew that was never going to happen.
Capacity. It's just as atrocious as I expected, I would've supported completely gutting the whole thing and building an omnimover boat ride for the first time in forever, which would've at least doubled capacity and extended ride time. However, the drops would've been lost, and those actually fit this ride better than I had expected. And if more rides are added to World Showcase, the capacity problem will be helped.
Ride time. Well, they extended the ride, which I think was a great idea. It doesn't feel criminally short. It's longer than most fantasyland rides, but it's a boat ride, so it's moves slower. Mr. Toad's Wild Ride is only 3 minutes, yet it feels longer because you're in a new scene every 10 seconds. I think this ride is a satisfying length though. Ride time is less of an issue than I anticipated.
I wonder what the budget was here. All they left of Maelstrom was the majority of the track and the actual building. While I'm happy that they didn't go cheap, it just makes it even worse of a decision to have replaced Maelstrom rather than have built the ride in DHS, a park that needs help over these next few years. And where the three key problems could've all been avoided.
If the budget was reasonable, I anticipate that the imagineer in charge of this ride will have a great future with the company. And he should. Everyone involved with this project deserves a pat on the back. The guy who made the decision to replace Maelstrom in the first place is gone, which is also well deserved. But for the situation the imagineers were given, they did an excellent job. The ride is far better than I anticipated.
I really can't give this whole thing a plus or minus just because it's a plus in so many ways, yet a minus in so many others. I just want to say that the imagineers did a great job, and disregarding the other issues, it's a solid ride.
*edited to shorten post