Having read the many mixed reviews of the new D&D miniatures, it was with some hesitation that I took the plunge and bought a few packs. Like those reviewers whom I found most convincing, I think the miniatures, while flawed, are a good value for the money spent.
As others have said, quality of painting and sculpting varies wildly from figure to figure. Most of them -- say, 70 to 75 percent -- stack up pretty well against the typical amateur's paint job. A few -- 20 percent -- are noticeably better, and a very few -- 5 to 10 percent (Axe Sister, anyone?) -- are horrendous.
Here's the short version:
If you like painting your own figures, and have the time to do so in the numbers a typical D&D game requires, these probably aren't for you. But if you'd like to assemble and use anywhere from a dozen to a couple hundred colorful models, sized and sculpted specifically for D&D ... the D&D miniatures are worth your $1.25 each.