I started reading the XMen at about that exact time, and while I mostly agree with you, I also think that Cyclops was stuffy and uptight. He certainly wasn't the badass that Wolverine is. He was Wolverine's counterbalance, like some people have said, succeeding by being "good" and playing by the rules so to speak.
So I think the first two movies got the character mostly right. What I will concede is that the movies simply did not give him the chance to shine and be the central hero we know he can be. I think it was more egregious in the second movie because he was put out of commission pretty quickly.
I think a lot here are forgetting that the first two movies were at the dawn of modern comic book movies, and were a revelation to some of us fans. We were fearing the absolute worst from the first one. But what we got was a movie that for the most part showed real respect for the characters. Yes there were changes, and some characters were switched around. But really, believe me, it could have been much worse, and everything we had seen before (except for Blade) suggested that it would have been terrible in that the characters would not resemble their comic counterparts at all, just in name only. You know what I was expecting? Something like X3, just a bunch of super powered people fighting each other that you knew nothing about or cared at all about.
I can understand everyone's frustration. X3 and Origins were terrible and they practically undid any ground the first two movies gained. I actually think it's tainting many people's opinion over the entire franchise and sadly judging the first two even more harshly than they deserve to be because of them.
The ideal thing would have been to use FC as a reboot and start from scratch with the original X Men. Obviously they didn't, but I think the franchise is not lost. X3 can be ignored because everything that happened in it can be, and was, undone. Magneto got his powers back, Charles's consciousness survived, Phoenix was just Phoenix and not Jean (if you follow the comics), and Cyclops "died" offscreen, which means he didn't die at all. They're kind of ignoring Origins since they re used Emma Frost. And I think the central core group of characters are strong and can at the very least give us one last great movie in DOFP.
Jus think. They could reboot the franchise and try to "re-invent" the characters like they're doing for Fantastic Four!