I don't get the Harry Potter snobbery, either, mysterio. I thought they were loads of fun. I loved Rowling's imagination, her use of various mythologies, and her fantastic sense of humor. I thought the characters were engaging, and I loved that she wasn't afraid to be dark in a children's book. I would be proud to have written the HP series.
I haven't read Twilight, and don't really have a desire to. I did read a few of the Anne Rice vampire books, and feel the same way as other posters who enjoyed the books, but thought they were terribly written. I think Anne Rice has a heck of an imagination; just no skill with the English language. But, then I could accuse Stephen King of the same, to a much lesser degree.
My sister read the Twilight books because all of her friends wouldn't stop talking about them. She hated them, but kept plugging away, thinking they had to get better. Then she went BACK and read the first book again, thinking she was missing something. It really bothered her that she couldn't see what they were seeing.
I had the same phenomenon happen with a few classics (Hemingway, anyone?) earlier in my life (reading something and wondering WHY people thought it was so fantastic), and decided I would never waste time again on a book that hadn't grabbed me by the middle of it.