It really depends on the specific situation. There would only be two situations where I would/could live in an HOA community: First, if the HOA is over a bunch of condos, then its almost a necessity, as there is likely a lot of common area/property that needs to be maintained. Things such as roofs, parking lots, playgrounds, etc. Imagine if there were not an HOA and the roof started leaking...who would be responsible? The person on the top floor? So in this case there needs to be a HOA. Second, if the HOA is in a Historic District, but in this case you should know what you are getting into.
I couldn't live in an area that had the busy-body HOA demanding I run every color change/window design/window style etc. through them. If they were paying part of the mortgage, then maybe they could have a say. I know a few will complain that they want some standards for the neighborhood that an HOA provides, but for the most part, the area I live in is generally kept up (not as nicely as I would do it, but that's just the way I want to keep my property) and there's no HOA needed.
I guess if you don't like the people serving on the HOA, then maybe you should run for the board the next they are up for election...