I object when computer generated imagery overwhelm the story. Actually, I've objected when CGI is substituted for storytelling. About.com has listed what they believe are the 10 Films That Revolutionized Computer Graphics. I think it is a good list, but I would have added one of the superhero film.
CGI is a great development in film when it is used to advance the story instead of as an end in itself. I think Jurassic Park is an excellent example of the blending of live action, CGI, and storytelling.