I am also watching Mac7 for the first time (at episode 37). I figured I would hate it based upon what I heard but being a true fan, I felt like I had to watch it. It was a little tough to get into but I actually enjoy it now. While it is not the best show out there and no where as good as the other Macross series, it still works for me. Parts of it are pretty stupid and I just shake my head and keep watching. Some of the stupidity has some charm and makes me laugh. I still get a kick out of Basara demanding that everyone hear him sing - even when he is getting his ass kicked. But I get pretty sick of his "I'm a complicated guy and no one understands me" rants. What I do like is that it ties into the original Macross in several ways, has lots of cool mecha, and is faithfull to the concepts of Macross. It gets a bit unbelievable in parts but what anime doesn't?
While it may not be for everyone, I still recommend any Macross fan to watch it to see for themselves. It's not that bad, really.