I think it depends on the material. Take Star Wars for example. 4, 5 and 6 (the originals, not the remastered). They were amazing! The story shone through and the set was perfect. Interesting background without exploding over the storyline. Now look at 1, 2 and 3. Storyline was sacrificed for CG. They're all so CG rich that for people who aren't die hard fans, that's what they remember more than the storyline. That's not enhancing the experience, it's hijacking it.
I think CG is awesome in moderation, or, an entire CG movie. There's still nothing like a really good, well played, well acted, well choreographed live action fight though.