I dug Cloverfield...I really, really liked it right up until the "money shot" with the monster. I could have gone the whole movie without a clear, up close, daylight shot of the thing.
It didn't ruin it for me as bad as, say, the stand-off with the alien in Signs, but yeah.
As for shaky cam..I'm okay with it if there's a reason for it in-move...like a character in the movie filming. If it's just being done for "effect", it usually loses me.