NASA's really done some amazing work. The probes and science missions have been great.
In the last 20 years or so, the manned missions lack focus and cost too much for too little.
I'd actually like a bit of a sweep of NASA management, some increased funding for new hardware, and a serious focus. Bush seems to be doing these things, somewhat at least.
I don't think it NASA had much choice in the existing design of the shuttle, as it was forced on them by committees led by military folks. Originally, NASA wanted to build a much smaller shuttle capable of shuttling satellites into high orbits. But the military was more interested in hauling heavy cargo into low-Earth orbit. The military won out. We got stuck with a turkey incapable of going more than a couple hundred miles up. If NASA had built the cheaper and smaller shuttle they really wanted, we'd probably have more than a hundred operational now, and without the headaches.