I actually consider their pervasive editorializing to be their weakest point, not only because they can be quite wrong (The Iraq war as others have pointed out), but also because it actually gets highly repetitive and tiring. I like reading about political malaise in Japan or the energy industry in Brazil, but I don't like them putting the same opinion in both articles. If they left their opinions only in Charlemagne/Lexington/Bagehot, they'd be a much better magazine.
I have to disagree. Since the advent of blogging, I now prefer that style of writing. For example, the writing style in this article illustrates precisely why I no longer care for the standard journalistic style: