Generally I like the companions a lot more here than in Fallout 3 considering the companion wheel, perks and generally better voice acting and writing. Plus with ammo weight they become much appritiated pack mules.
However they still suffer the same problems. I still sit there incredulous whenever I jump over a foot high wall and have to watch my companions run 5 miles around benny hill style until then can find a flat bit of terrain to get to me. It's especially rediculous with ED-E who should simply be able to fly over.
But like I said I do like the companions and nearly always have one around. Cass is a great, if only for the immortal line "No one has a dick that long, not even long dick johnson and he had a fucking long dick!" Veronica's very funny too, and also one of the few cases I can think of in gaming where an openly gay character has been handled so well (Biowares handling of it with that elf from Dragon Age still makes me cringe). She does seem to be bugged though as ever since the end of her quest she just won't follow me, which is a kick in the nuts.
Followers I don't like are Boone (not bad just cliche and overpowered) Raul (again not awful but a bit useless) and Lily (who's like a Wild Wasteland event, except where as with most WW you can snigger and then leave she just won't leave you alone). I don't have confirmed Bachalor or high enough speech to get Arcade. Rex is ok, but he's a bit too bizzare and he's not ED-E.
But honestly I think my favourite companion might be ED-E. Not as a character you understand, but he just fits what I want out of a companion. He's quiet, not too powerful but strong enough to help and he can carry fuck loads of equipment, even if it doesn't make sense how you fit a Grenade Machine gun into a robot a little larger than my head. Most of the others are great characters you understand but after you've heard Cass say the same damn whiskey line for the fiftieth time you just want to put a shot gun to her head before emptying whats left into your own.