I don't agree regarding Jeannie Longo. She rides very well at the Worlds every year but she very much targets those, whereas other riders ride far tougher calendars all year round. Longo hasn't won a major race excluding French nationals for years, and that hardly seems likely to change.
Also, she is unusually old for a top-level competitor, but Bernard Hopkins is only (!) six years younger and he remains among the best male boxers in the world. That doesn't mean there's no talent in boxing, sometimes you just get freakish exceptions to the norm.
As for women's cycling in general being good, I'd very much say yes. The problems the sport has are economic and organisational, not in terms of sporting entertainment. Unsurprisingly there isn't the same depth of quality as in men's cycling, but seeing the top echelon of riders to-ing and fro-ing is every bit as exciting as watching their male counterparts. Unfortunately nowadays, there aren't many really tough races, with the Giro d'Italia being the only one I can think of to feature really big climbs now that the Grande Boucle and Vuelta a El Salvador have gone.
It's fair if people have criticisms of women's cycling they feel are legitimate, but I see a lot of arguments where the women are in a lose-lose situation. In the really aggressive one-day races, they get accused of being tactically naïve. Yet when in the Giro, the biggest race on the calendar, the big teams shut down escape attempts on flat stages extremely quickly and stringently, they get called boring and unadventurous. The fact is, just like men's cycling, there are variations in racing styles and patterns and I wouldn't be dismissive based on a few races. In general, I'd say the smaller team-sizes and shorter race distances usually make for less predictable and more attacking and open-ended racing, but it's cycling and sometimes, like men's cycling, it can be a bit boring too.
Personally, I find that the current situation of women's cycling - with most so-called professionals still working jobs or studying on the side (or rather working and studying and then cycling on the side) - gives the sport a level of intimacy, melodrama and romance which I find more entrancing than men's cycling, despite all my support for better financial conditions for the women. To me men's cycling is like a gateway drug to women's cycling - the real hard stuff, impossibly addictive once you're hooked. This is probably at least part in due to the anorexic media coverage of the women's scene, meaning that if you're interested enough to want to really get to know the races and the characters of the sport, you need to be pretty dedicated (and pretty online, too).
The financial state of the women's sport is a lamentable mess, as is the number and difficulty of races (especially stage races), but once you fall in there's no going back. I enjoy all the presentations of the men's grand tours, but that's nothing compared to my anticipation for the next women's Giro route.
I'd agree with marinoni that at championship level, women's races are more often than not better value than men's races.