I'm a Literature person (have an M.A. in British Lit, planning to pursue my PhD . . . about as literary as you can get), and while I haven't read these books, I've heard enough about them to make me absolutely not want to touch them ever.
1. The stigma against Fantasy literature is already bad enough without adding more mindless drivel--which, from what I've heard, is all this is. This seems to be the sort of book that critics EXPECT from a Fantasy writer (completely overlooking Tolkien or Dunsany or Orson Scott Card, just to name a few, of course) and will use to "prove" that Fantasy is a retarded, mind-rotting genre that has no place in the halls of serious literature.
2. The things I've heard about her "adaptations" of the vampire myths have sent me (and my fellow Fantasy-loving co-workers) into yelling rages. They don't have fangs? And they can go out in the sun? And they SPARKLE? Are you SERIOUS?! Who's going to take any classical vampire seriously after THAT?! Besides which, none of us wants to assign Dracula and have to listen to our students whine about how the vampires are "all wrong" because they're not like Stephanie Myer's (cause these kids won't even have read Anne Rice, which I would MUCH prefer to Stephanie Myer).
3. Her apparent lack of a strong female character (from all I've heard, Bella is ANYTHING but strong) and the misogynistic slant to her writing (again, I've only HEARD) go against everything I believe in.
So, no. I won't be reading the books or watching the movie. In fact, I'll be over here in the hole I dug in the backyard while the Harry Potter thing was going on. And if anyone in my literature class next semester tries to compare Edward to Dracula, I will throw an eraser at him/her.