FII is, imo, a very good album with some mediocre songs in it. I think many DT fans just like to throw shit at it because of three reasons (two bigger ones, one smaller one): 1. It sounds very unalike DT at some places (YNM, Anna Lee, TAMP), 2. They follow MP who has often expressed his dismay about FII and general and also particularly the songs that were significantly changed from the respective demo versions (which, from his point of view, is surely understandable at some points - the extent of them, however, is up to anyone's opinion), 3. The inclusion of guest musicians for LITS and particularly YNM.
That said, I don't consider myself part of it. In my fanboi phase, I digged every song of FII. Now, I think that it has indeed some weak spots, but it still offers a lot of greatness - especially TOT and LITS.
As for the demos, I would have added some of them in a heartbeat, while replacing the final versions, like You Or Me, The Way It Used To Be and Take Away My Pain. Some could have needed some re-working until the addition, like Speak To Me and Raise The Knife (see Score) and others would have been throw-away material (Where Are You Now?, Cover My Eyes (although I like the acoustic version of it)).
The best decision from the producer's side, though, was definitely the separation of the BMS instrumental section, now known as Hell's Kitchen.