Beyond the obvious distortions of O'Lielly, my issue is his style.  I enjoy shows that have tough questions and questioners, with good follow up.  The ones where the host acts as a bully or uses cheap debating methods (cutting people off, throwing out insults or simply intimidating guests) are a waste of time to me.   

Another thing people like O'Lielly and Hannity do that is very obvious is change their behavior towards guests they either like,  dislike, agree or disagree with.  Watch how they interact with these groups of people and it is obvious.  A host that treats most people the same, regardless of viewpont, is more interesting.  For example, watch CSPAN's Brian Lamb, or PBS's Washington Week In Review.  Heck, even Cal Thomas' AfterHours on Fox has good interesting converstation without throwing bombs.