I enjoy Molyneux, warts and all. He is bat shit insane, but he is genuinely passionate about gaming and I respect his desire to evolve the medium rather than just churning out the same experience constantly with a new lick of paint (although Fable probably fits that mould somewhat).
I'd prefer developers to be ambitious and fall short than play it safe and have the end result be perfectly adequate.
He certainly talks a lot of shit though. Now that I'm used to it though I find it quite endearing, if only for comic value if nothing else. Still, I think a big part of me carries on believing him because I know I can never fully dismiss the mind behind some of my most loved gaming experiences such as Dungeon Keeper, Syndicate and Black and White. He clearly has talent, so hopefully at his new company he goes a way to rediscovering that passion and flair.
Although it looks like the new company might be working on games of the mobile variety or for a more casual market. That would be pretty deflating; for me anyway.