I'm a conservative and watch it all the time. It's frustrating that he often talks over his guests as they're finishing their point...it just seems to be rude. But, that's just the way of the talk show. Radio talk show hosts move on to the next call without politely closing out the current call all the time.
That being said, time is limited and guests tend to stray from the point, seize the opportunity to advance their agenda, and otherwise waste that limited time, and the host must control that to keep things moving. And that's what O'Reilly is doing...I just wish he could find a better way to do it.
And, he is full of himself. I get annoyed at the way he shamelessly self-promotes...especially when, in his Email Letters segment at the end, he puts up comments from readers (supposedly?) that "innocently" reference his books or personal appearances. Now, that's a waste of precious time!
On the other hand, he does a lot for charity, exposes and successfully applies pressure to right certain wrongs, and doesn't let his guests get away with spinning the facts. Those who don't answer by the second or third time Bill tries, are exposed either as liars or covering something up.
I also dislike the way he treats people differently. He goes from dismissive (Alan Combs and Juan Williams) to reverent (Bernie Goldberg and Charles Krauthammer). I certainly believe the latter two individuals deserve his respect...just as the former two do. The two liberals sometimes drive me crazy as they sip their Koolaid, but so do Hannity and Beck.
I think my favorite segment is Watters World and least favorite is when Laura Ingraham is on. Now, there's a battle of two engorged egos! She talks over him as much as he talks over her, neither seems to be able to get a word in edgewise, and when the segment is over, it's spooky...like all of a sudden, the room goes quiet.
Overall, I enjoy the The O'Reilly Factor...especially Bill, when his ego is in check. It's fast moving, relevant, no-nonsense analysis and commentary that presents both sides, leaving us to decide.