I have to disagree based on the fact that there have ben about 8 threads of this discussion in the past 2 weeks.
Although, I have to admit, there havebeen twice as many to discuss (OMG WHY ISN'T PATCH 1.21 HERE YET) .......
Personally, I like the materia system as it "in general". For the most part, I feel the risk vs. reward is set about right with the low percentage of multiple melds set at what it is. I tend to over all, disagree with most of the debate against it.
Only imbalance I see with it at all, is in comparison to alot of the U/U gear, but I believe in the near future as we have more end game added, (I am hoping anyway) that SE and the gang will make the new U/U raid drops in a manner that sets a gap in there value from melded gear.