St. Anger is one of my favorites.
Metallica didn't die with Burton, but I do feel that they lost a lot of their magic eventually. ...And Justice For All was pretty kickass. Sure, the bass was low in the mix, but I don't think Newstead changed anything. Especially when you acknowledge the fact that both ...And Justice For All and the "Black Album" both included him.
As far as what took place after the Black Album, there's some great stuff overlooked. The problem with a lot of bands that have a big change in sound is that people are too busy b!tching about a lack of similarities. Kill 'Em All through ...And Justice For All were the sounds of a metal band, but after that they pretty much became a rock band. Can you call Load and Reload metal albums? No. I just hear rock. They don't have to be what the early stuff was, just enjoy the later stuff for what it is.
And if you wanna call Death Magnetic a failed attempt to go back to their thrash period, I say it's good enough. The main three dudes who have been there since Kill 'Em All are nearing 50.