Well, not never - I liked it in the Burning Crusade beta, before they decided to beef up the males because they were too skinny. Now that we know we're not going to get an updated blood elf model before Warlords, I have to say that I just plain don't like the model as it currently exists. The female model is... adequate, I guess. But the male I just find awful, ungainly, overly muscular and not very elven. Blood elves are supposed to be an inversion of the classical high elf trope (heck, they actually are high elves, basically, just renamed) and so I find the current model wholly unsatisfactory.
I guess what I'm saying is, blood elves are terrible. What's sad is, there are good looking blood elves in game and many of them use a standard model. I don't know why I think Lor'themar looks okay, but every time I roll a blood elf I just want to slap my own character.
Just awful. Awful. I feel bad for you who've chosen to play one. Hopefully they'll get their model update soon. Ugh. Awful awful. I hate the blood elf model.