I'll talk stock Reach to make it a fair comparison even though I only play MLG anymore. I like bloom, I think it works. If I had to choose, I would choose no bloom because from a spectator's POV, it's more enjoyable. I love what Sprint allows me to do with the map. I think that armor abilities would have been better off as pick ups. The maps are largely underwhelming, even the DLC ones. Anniversary map pack is solid though. I like Jetpack but again, as a pickup.
So basically I don't like stock Reach but I also didn't care for stock Halo 3. I played mainly MLG for both games and absolutely love those settings for both games. More so in Reach because of the DMR and netcode.