Can't code until the architect has written the spec. The deadline estimated from a Gantt chart by the PM. No feedback from stakeholders during development or the ability to alter requirements as they become better understood. So usually delivering code late that doesn't actually meet the customer's needs.
Scrum was better.
I hear it is now horribly abused (I'm out of the game now) and that's a shame.
EDIT: I saw the most resistance to Scrum from project managers themselves, who did not understand a world without Gantt charts, or changing requirements as you went along.