I personally, thought the movie sucked balls. The whole first person thing was OK as a concept, but in practice it left much to be desired. As a huge fan of the "monster movie" genre (and yes, especialy Godzilla, to say not to compare them is impossible nearly. it was Godzilla that gave JJ Abrams the idea to make the damn movie in the first place!)
So, yeah, the camera was nauseating at times, the only character I gave a shit about was the guy holding the camera, and that was actually the only reason I did give a shit about him. Worst of all, most shots of the monster are few and far between, and you really don't get a very good Idea of what it looks like until the end, and even that isn't all that great.
All that aside, I do hope a sequel is made, so that hopefully they can "work some kinks out" of the original idea.