Not sure if all the Borderlands hate is from early players or not, but it was and is one of my favorite games from the last few years. We played the crap out of that thing coop. Granted we didn't try it out until long after it had released so we probably missed the major issues that everyone hated. Yes, there were still annoying consolifications and other such things, but it was amazing fun with a few buddies. It is to date one of the only games in my 25 or so years of gaming that I've played through a second time. Super excited for Borderlands 2. Hopefully they'll fix what sucked on PC and then just make it more of the same awesome.
Funny thing was I really didn't have any interest in it until I picked it up on a whim during the summer steam sale last year. Before that I'd always just more or less ignored it. SO glad we grabbed it during that sale. I have 105 hours logged according to steam.