Was it worth the wait?

What I didn't like was the cutting out of the ceremony with Michael in the Church that took place in the beginning.

I have. It's much better paced than the original version, for one. It feels more like a Coda, as was intended to be, than an actual segment of the main story. As such I would say, let's say GFI and II are A grade films. Let's say the original GF 3 was a C grade film. I'd bump the new version to either a B or a B+

No.

I actually enjoyed the original cut more. My last viewing of it was the most I'd ever enjoyed it but with CODA, the pacing seemed too quick, some scenes were trimmed down while others were outright omitted (which is to be expected since the film is actually 12 minutes shorter than the original version, so you knew not everything was going to be in it). However, am I may be in the minority here, but I enjoyed the original version better. I agree, not on par with Parts I or II but I feel the CODA cut was unnecessary in making.

Coppola destroyed his work with this cut. Gf3 was perfect before.

I viewed it last night. I thought it was a little easier to follow the storyline. Of course, since I am a big fan of the GF films. I had the advantage of knowing who was who and what their relationship was to each other. Maybe not so easy for "latecomers" that are new to the story. What was even more noticeable was the repetition of scenes from the two earlier films. The beginning with a social event. Michael holding court in his study ala Vito Corleone, the obligatory meeting at a long table of "leaders" to iron things out, Mike wanting to fool Joey Zasa by having him think that Vincent was coming to his family. Just like Vito wanted Luca Brasi to do with Tattaglia. Even the assassination of Zasa and Fanucci at the religious parade. Both men were needed to be eliminated to give the Corleones complete control. Oh yes, the ever-presence of oranges whenever a disaster is about to happen.