I really, really wanted to like Egwene (and in fact, my early post-TGS posts tend to support her), but deep down I just don't have that much faith in her character.

Like Cannoli said, it's mainly that she hasn't (a) had a serious challenge (because being a normal person in a world of idiots can only make you so great), and (b) doesn't show humility or a fear of power at any stage of the series.

(b) especially scares me a little, because that's a very childish trait. Children want power, but as they grow they should come to realise the costs and price of power, and temper the desire for it. Rand has struck a good balance where he takes power when he needs to, but gives away what he can. He wavered a bit from this lately due to the Darkness in him, but he has considered the dilemma of power throughout the series.

Egwene's only dilemma regarding power is how much of it she can get and how fast. She never has a moment where she considers that another might be more suitable (for example, the Gray that organised the Tower during the attack, rather than running off leading novices into danger).

Perhaps worst of all is that she knows Halima has probably Compelled her, but fails to consider this, as does everyone around her. This is possibly my biggest issue with the series right now.

Ultimately, her actions in ToM will decide whether I end up liking her or not. She does have great potential, but until (a) and (b) are addressed, I can't take her seriously. I think it could all have been solved for me if her torture in the Tower had brought her pride down to the level where she doubted her own ability. Until she goes through the process of deconstructing and rebuilding her own self-confidence, she won't have mine.