As Rudy will tell you, this is a topic near and dear to my heart. I also got alot of mileage out of 2004. '05 and '06 didn't interest me, but I thought I was due for an upgrade this year (XBOX version). After struggling with sliders for 2 months and suffering through some very frustrating/unrealistic games, I finally gave up.
I went back to '04, and things were dandy for a while until I stumbled across another one of those EA specials...A spectacular defensive battle that suddenly turned into a ridiculous shoot out in the final minutes of the game. With that, I crawled my way back to '07 and have accepted some flaws and am mildly enjoying it.
Sorry for the ramblings. Here is my list of pros and cons:
Flaws
1. Too many fumbles. It rains too much which might contribute??
2. Momentum is overdone. Momentum swings are often illogical, have too big of an effect and are tough to overcome.
3. Kicking Meter sucks and CPU never misses FG.
4. JTS can be abused by player and CPU can cheat with it. Mixing up the count against a human might be fun, but not vs the CPU.
5. Close up view on kick returns is horrible.
6. There is no slider or any way to turn off any of the first five issues (This one is Rudy's pet peeve lol).
7. Coming from 2004, I was mildly dissappointed in the lack of improvements/additions that really interest me.
Pros
1. The game feels much more realistic. The physics seem better and there are some new animations...like running backs dragging defenders for an extra yard or two.
2. Conferences Realligned. I don't normally obsess over rosters and such, but there were some significant changes since 2004...most notably in the ACC and Big East.
3. Schedule - This is minor, but I really like that you can break the schedule down by conference or top 25...nice touch.
Here is a thread I created when I first picked up the game. Ofcourse since I started that thread, I have threattened to quit, then quit, then came back....I am so weak. LOL.
Just Upgraded from '04 to '07