I loved the fact that it was more heavy on the story than the previous trailers. The Burning Crusade cinematic had some story, but it all seemed like it was just an excuse to kill some people and then throw in a quotable one-liner. Not that there's anything wrong with one-liners. Yelling 'You are not prepared!' with a few dozen other nerds at BC's midnight release was pretty sweet.
I think that the trailer missed on the adrenaline factor, which is what made the previous trailers so fun. Daniel had some gripes with the Lich King's character, but I think that oomph of adrenaline would've pushed it from 'awesome' to 'completely amazing.' It needed something that gets you pumped. I adored it, but I came out of it going "wow, that was neat" and not "Hell yeah, I'm off to kill some undead, woohoo!" I think the only thing I would have done differently is add some conflict. A battle between the Horde/Alliance and the Scourge, maybe. Quick snippets of random pairs duking it out would've taken away from the 'epic' of this trailer, but I like the idea of a massive battle raging down below. That likely doesn't jive with the storyline they're working with since that dragon is going to be an actual character and/or boss in Wrath, but it would have been nice anyway.
What about you guys? Let's say you were given the opportunity to rewrite the script for the whole thing, what would you do? Would you scrap the whole shebang and start over, is it fine how it is, or are you somewhere in between?