alonsoJonathan: With Prada, it really depends on the collection: When she has a new silhouette-- or at least an interesting one, and she shows the collection in a great venue, I'm captivated by the presentation, even if it never is anywhere near a theatrical statement. Because with Prada, she knows how to balance innovation and wearability; practicality with luxury, and commerce with artistry.
At her best (A/W 2009 and A/W 2011 for example), she has refined the Prada signature just enough to offer something new with something slightly otherworldly but still accessible. That's her charm at her best. However, the S/S collection was a total bore to me, because it had none that the above.