I really enjoyed "Cloverfield". It was an experiment that really paid off. There were a few bits that just seem a little cliché in hindsight but you are far too busy being blown away by being in the middle of the action to notice.
And only one point where I went "Oh, I know what's going to happen in a minute.", but that was rather obvious, too.
No, the short version is "Go and see it. Don't sit too close to the screen." (The camera work takes a little getting used to.)

As for "Johnny M."... Actually, I do take your point. In an age when even Billy idol tried to cash in on "Cyberpunk", this was a pretty decent take on the genre. With the exception of Johnny, Molly/Sally and some of the dialogue. And I wasn't too taken by their Matrix, either, but that might just be because it was nothing like how I imagined the Matrix then.
Hm, I must rewatch the film, I think. And cheer at Udo Kier falling apart.

Have you read "Spook Country" yet? I am still waiting for a more affordable edition.