Depends on the film. I prefer to see opening credits in most films though, especially if done in a lovely creative way. But if it's just boring white font over a black background appearing in the same part of the screen for minutes, I'd rather it was just a title and that's it, or the credits play over the starting footage.
I like credits that play over bird eye travel shots:
Crimson Rivers is one I like, the music helps by a fantastic composer. I can't seem to find a video for the opening of the sequel though, that's one I adore too:
http://www.youtube.com/watch?v=wOW0g36b8Ks
And obviously this classic:
Best Opening Credits of all Time.
Comic, Funny, Silly, Fun, Animated, and best of all an AWESOME score!
As for titles and credits till the end of the film is not something someone invented new. Sergio Leone was pretty good with Duck, You Sucker and Once Upon a Time in the West.
Charade is another I like:
http://www.youtube.com/watch?v=yjGDjwxRwpI
Also, Casino Royale(official) opening is one of the better Bond openings, just shame about the opening theme...