Well, my beef with dubs is that they wreck so many character's voices. The way I see it, a voice lends to a character's personality. How the voice actor/seiyuu acts the emotions, along with the sound of their voice itself adds a dimension of personality to the character. I've heard quite a few terrible dubs before, and I think the biggest issue with dubbing at the moment is the actual actors they are using to voice the character. Many times, they chose people with inappropriate voices for the character, which make me cringe.
The other aspect is the translation itself. When you dub something, either it turns out like an oldschool kung fu movie, or you have to really rework some dialog to fit properly. Unfortunately, I hate when they change the dialog. I want my anime to be as close to the original as possible, because there are many jokes, idiosyncrasies of the language, and phrases that are hard to translate that usually get garbled and destroyed when they dub things. Hell, on the subject of translations, I hate most official subtitles as well. I don't have that great of a vocabulary in japanese yet, but there are times where I can pick out awkward or bad translations in official subs that most of the time are not present in fansubbed anime. Most fansubs are much more true to the original meaning of the japanese dialog, because they understand it better, they actually care about the translation, and they don't have the corporate crap forcing them to decide if something is too long for someone to read, and such. Most people who watch fansubs regularly can probably read much more subtitle text than someone not used to fansubbed anime, so the fansubbers can make more direct, if longer, translations of dialog without inconveniencing the person watching the anime.
Ultimately, I could care less whether anime gets an official translation, because fan made translations are usually better anyway. Not to mention the fact that people who do something illegal and then aren't willing to own up to that fact bug me. I hate the whole "we'll stop distributing when it gets licensed". Especially if the licensed version sucks ass compared to theirs. And the "support the anime" argument they use is pointless to me too, because all I'm supporting with those DVDs is the company who licensed it, not the company who actually made it (maybe some tiny part goes to them, but not enough to matter, much like buying a CD off amazon barely makes the artist anything).
In a nutshell: I hate licensed anime. Fuck off corporate America, stop fucking up the stuff I like.