At first I must say that the series created by Kubo Tite, which something around year ago really impressed me now became one of the biggest dissapointments in my life.
Well, the beginnings of the Bleach were nothing really great, but I still enjoyed it (know when I remember those Karakura School times I feel really nostalgic) and when the Soul Society Arc I was like "OMFG". There were great fights, I enjoyed even the trainings and especially Ichigo's power-ups and his hollofication. Enemies were great, the plot was also interesting. And in anime we could've heard the 'Number One' song many times during the most exciting scenes. Overall, it was freakin' awesome art. But who could though back then that the ending of Soul Society Arc is actually the ending of Bleach's greatness. One of the biggest minuses was that there were too many characters introduced, but it didn't spoil that Arc.
After that the Arrancar arc has started. The moment that the two arrancars arrived on the earth was almost like a total rip-off of the moment in Dragon Ball Z when Vegeta and Nappa landed on earth. And after that we meet the Vizards. Once again, the author presents more characters not giving them enough air time, so again we have more needless characters. But it wasn't so bad at all. Actually, the fall of Bleach started with the Hueco Mundo Arc. Since then, Bleach became completely mindless fighting manga. It was only about fighting. New characters - the Arrancars look completetly idiotic (well, we have some emo-guy here and the Grimmjow's transformation is like WTF? o_O and there are much more worse things). And what's going on in the Bleach at the moment? For few monts already we have a series of 2-3 chapter long fights that seems to never end. What's worse it seems that Kubo has completely forgotten about main characters like Icihgo or Rukia. I don't even remember when was the last time that I've seen them in manga. Well, the whole Hueco Mundo Arc seems like the worst shounen story ever written. The reason that I still read and watch it is that 30 minutes per week is not too much and I still hope to finally see my dear Rukia in action (damn, I so miss her).
To all people that plan to start reading or watching Bleach - read/watch it only 'till the ending of Soul Society Arc (you can also see the 1st movie but that's all). If you're looking for a really good shounen manga go pick up Kateikyoushi Hitman REBORN!, D.Gray-man, Busou Renkin or One Piece. You won't be dissapointed with them.