I also blame the school system. I guess I have the same problem in my school (a high school): the teacher teaches us a new concept (if he happens to bother teaching us anything), and then we do the same kind of exercises over and over again until everyone's bored. It's unbelievably awful. Now it's even more frustrating because I just took my final exams, and because I took them 6 months earlier than normally, I still have to go to the math lessons. It's frustrating to sit there after I've taken the exams, and I skip almost every lesson because I hate it so much. And the teacher doesn't even care much.
But then again, I don't think there's anything wrong with math in general... sometimes I even borrow from library books that have all kinds of math and logic problems, and I enjoy solving them. Especially when I've almost pulled my hair out and then it all comes together and I have the AHA feeling that redhead was talking about.
So, yeah, I blame the school system for making students to hate math!