I don't think Atomic Bomb is such a bad album as others around here say, though yeah, it hasn't aged well. For me, the difference between ATYCLB and Bomb is that the latter seems to think it is revolutionary, but it's really not. Neither is the former, but at least it doesn't feel like it makes any pretense to be anything bigger than it is. Bomb and the Vertigo tour are U2 at its most blatantly U2-ey, which can be either a good thing or a bad thing.
As for NLOTH, I agree that it had so much potential, but the band chickened out halfway through. If they'd kept to their original intent, this might have been in their top 3 albums for me. As it stands, though, it's enjoyable enough. I'm harsher on the individual songs, but I like it the album as a whole. Still sounds fresh to my ears.
No Line on the Horizon: Love the music and the energy, but I don't think the lyrics are up to par. A great idea that unfortunately wasn't fully realized. Still my second favorite song here.
Magnificent: I don't understand the appeal. It sounds like the band wrote it in their sleep. Not a terrible song, but bland.
Moment of Surrender: This one didn't grow on me until I listened to the live performances. Good song, but the "ATM machine" line drags it down a bit.
Unknown Caller: Nice intro, but atrocious lyrics.
Crazy Tonight: I like this one. The studio version, that is. The lyrics and the melody are great.
Boots: The song is too confused about what it's trying to be. Cringeworthy lyrics.
Stand Up Comedy: It may be guilty fun from time to time, but it's still bad. "Stand up, then sit down for your love" may just be the worst line Bono has ever written. That I can remember, anyway.
Fez - Being Born: Love it. My favorite track on the album, and the one that most represents the original concept of the album. Would have worked well as an album opener.
White as Snow: It has a good melody and lovely lyrics, but it doesn't seem to quite take off as it should. Just feels like there's something missing, I'm not sure what.
Breathe: Don't understand the appeal of this one either. Upbeat and fun, but that's about it.
Cedars: Good song. Nothing remarkable, though.
What about Bono's idea of writing in different characters on this album? I don't think they have much personality, so it doesn't feel like they're not meant to be Bono, but it doesn't feel like Bono either. My biggest problem with NLOTH (the album) is that it seems a little detached for U2, mostly as Bono seems to be distancing himself a bit. That obviously bugs me, though it's fair enough if the band feel the need to step back slightly. But I have to wonder if it's the cause or the effect of Bono claiming to want to write in different characters. It worked on ZooTV because we could see him clearly through the guises, but here it doesn't feel much like Bono anymore.