Romeo and Juliet is not a bad play but it has been very overrated.
What always bugs me about the play, and why so many companies have done alternative versions and messed with the setting, is that the conflict isn't strong enough. I've never really believed that Romeo and Juliet were in any danger- yes, it was against their parents' wishes but it's a squabble between two families.
I haven't seen a production yet that shows any sort of violence and conflict. Waving swords at each other and biting thumbs is not a conflict.
Romeo and Juliet aren't in love- they're supposed to be a contrast from the conflict of the Montagues and Capulets. They represent innocence- it doesn't really matter what gender they are and there have been a female Romeo and Juliet and a male Romeo and Juliet. The love sonnets are supposed to be a contrast with the conflict of the families.