I'm still having tremendous fun at WoW. I stopped playing for a few months, now I came back.
God forbid me to actually try to change some of these people's opinions, it's kinda useless at this site. But I do recommend the game, especially if it's your first MMORPG. It does a better job than most at actually hiding from you that the game systems are quite simplistic.
The quests are quite OK, though they don't seem to be at first. Usually after level 10, when you move to the second area, they start relating to each other, making each area work as a kind of long quest string with it's own storyline. I especially enjoy the Dwarf area quests, as they're a mix of fighting against Troggs, Dwarf Terrorists (Dark Iron) and archaeology Indiana Jones type shit. Being a Paladin, I also enjoy the anti-Undead stuff. Duskwood (human area for level 20-30) is one of the best areas in the game for quests, IMO. It really does feel like you're playing a story.
That's my advice to you if you want to make an honest effort to enjoy the game. Try to read all the quests, and "roleplay" a bit the interests of your character. Don't do stuff your char wouldn't do, try to find missions he'd enjoy. As you said, the setting is the best part of the game, so make it a bigger part of your enjoyment than the phat loot. I'm telling you it is possible.
As for boring combat: depends a bit on your class. I'd suggest a Rogue or a Shaman/Druid first. Rogue has a quite envolved combat system, and the Shamans and Druids, being hybrids, can work some offensive spells, switch to melee, do some healing, etc. Autoattack is not WoW's combat system.
I fully believe WoW is a good pastime. Just convince yourself that it isn't a great GAME, and work on enjoying yourself in spite of that. Other people help. The good guys will make the game fun, and the smacktards will make you scream at your monitor. They're both essential to a MMO, I think, or you'll just bore yourself to death.
