Saw it a 2nd time over the weekend, been mulling on my thoughts. Like PCS, I think I liked it better the 2nd time, though it was less emotional. Once you've seen it, you have a better grasp of what is going on and what is coming, so you can really watch and enjoy more without being on the edge of your seat the whole time. I picked up on a number of small little details I missed the first time.
In the 2nd viewing, I found the perfect spot where it should have been split into two movies. Spoilers ahead.
In a perfect world.. TLJ wouldn't exist. It would start with a version of the CRAWL from TROS, something something.. "with the destruction of Starkiller base, the terrifying voice of the dead Emperor could be hear throughout the galaxy. The RESISTANCE, fresh off their victory are now trying to track down the source of this message.. etc" Some of TLJ would have been folded into the first 1/2 of TROS. Keep all of the Luke/Rey stuff (tweak it a little, show him reacting to Han's death, talking more to Chewie, etc). This 2nd movie would keep the link between Kylo/Rey as well. Kylo's opening scenes would be him & Hux & main combat staff reporting to Snoke's ship after the Starkiller base disaster. His chair turns around, and he's dead! A hologram of the Emperor is in his place, infuriating Kylo and creating dissent in the First Order ranks, some want to join him, some thing it's a fraud/they are better than the old Empire. From here, you'd get most of the first 1/2 of TROS, culminating with Rey/Kylo showdown on the Star Destroyer (where he tells her she's a Palpatine). She escapes on the Falcon, with the dagger and the location of the Wayfinder/Death Star, but we end on that point. The rest of the group would have been doing the side missions while Rey was training. You'd also have scenes with Lando/etc going to different worlds trying to drum up support for the Resistance throughout, so it doesn't seem so slapped together.
2nd movie would be the rest of TROS, but with everything spaced out more to give it room to breath. More time on the 2nd Death Star, more with the ship of First Order deserters.. more on the evil Sith planet, and Palaptines goals/motivations/etc.
Even in a non-perfect world, if you did 4 movies, and kept TLJ, I think that would be the perfect spot to cut the movie, big reveal, promise of an adventure to come, you can have a small time lapse as maybe it takes them a bit to work out exactly where the 2nd Death Star is, or maybe it's in a First Order controller system, so it takes a while to come up with a plan to sneak in.. whatever. Damn, now I want to re-edit the movies.
But anyway, it's a fun movie, the lesbo kiss is a nothingburger. You will literally see worse in a health insurance TV ad. Don't take other people's advice, just for yourself. I'm a HUGE "lore" guy, and I didn't think there was anything especially egregious here.