Finally saw this. I actually thought the story- which was pretty universally derided- was not all that bad, and the various twists were fairly ingenious.
But there was Tom Cruise to deal with. I find him extremely difficult to watch: partly due to his real-life shenanigans, which is actually unfair (Mel Gibson suffers the same fate with me and many, many others) and restly with his acting style, which is cold, closed in and devoid of much in the way of humanity. In films like this where one is called upon to identify with his character's sensitivity and humanity I just don't buy it. I could take him much more easily in War of the Worlds, Jack Reacher, or Minority Report, where he portrays difficult people. His leading ladies in Oblivion mitigated his coldness, and that helped somewhat.
I like movies where the production design is the major element, and that helped too. But Oblivion is not the equal of Elysium, and certainly comes nowhere near Gravity.