LTK problem isn't that the villain is a drug lord. It is that the entire film, including the drug lord, are bad 80s stereotypes. It isn't that the premise is Miami Vice like, it is that the feel is an episode of Miami Vice. It is all about the execution. For what it is worth, I like watching LTK. But that is because it is hilariously bad.
Yeah, but a lot of the 60s and 70s Bond movies are also filled with contemporary stereotypes too. The Bond series has always been a bit of a chameleon, importing hip and popular ideas of the time. LALD had a lot of the trappings of a blaxplotation film and we all know about the criticism of QOS being a "James Bourne" film.
Maybe due to childhood nolstalgia, I don't notice the issues with LTK, but I love the film and not just as a bad movie like you and some of the others. I even love the Gladis Knight theme song, I thought it was perfect for Dalton's Bond, especially in contrast to A-Ha's The Living Daylights. But then again, my taste in Bond films can be a bit strange as I've never really gotten the appeal of TSWLM and some of the other really popular entries.
Like my top five very favourite Bond films are:
FRWL, TB (despite the underwater scenes), OHMSS, LTK, SF
With the list of Bond films I really like rounded out by:
DN, GF, FYEO, TLD, GE, CR
QOS I can watch for Craig's performance and the awesome clothes, but I find it middling at best due to the subpar plot and villains.
On a Bond-related note, my girlfriend and I are going as Bond and Vesper to Halloween party tonight. She's got the long black evening dress and Algerian love knot necklace and I picked up a shoulder holster to wear with my tuxedo pants, dress short, and an undone bowtie. (No jacket so people can see the holster naturally).