My phone is the Nexus. I have to deal with HTC phones because my wife likes them and because of work.
I believe that Sense 4.0 is a massive improvement over previous versions. However, I also believe that it should be a removable theme that doesn't change the very fabric of Android itself. Also, as for bloat, the HTC One S on T-Mobile has at least 27 non-removable system apps that should have been user's choice instead of permanently in place, many of which duplicate each other's functionality down to the letter. In some cases, there are at least 3 apps that do exactly the same thing but are simply made by different developers and are there whether the user likes it or not. That isn't counting all of the hidden frameworks and apps that you can't see, including Carrier IQ which pretends that you can disable the logging. The phone has a non-removable battery AND no SD slot (still a bit upset about that on my Nexus, but the other positive aspects outweigh it) which, when added along with everything else, makes this a non-purchasable phone for me.
Now, I'm an advocate of each user choosing the best phone for them, be it any form of Android, iPhone, Windows, Symbian, MeeGo, WebOS, or whatever floats your boat. It's your phone. However, HTC asked our opinion on their phone, so I'm giving mine.