Cyclomatic complexity (CC) is good as long as it doesn't become the end-all be-all measure of code. I've run into crazy types that use it as an abusive bludgeon.
Code that has low CC feels strange if you're not used to it, but there are some good reasons to like it. One of the things that I find appealing to it is that by putting things into named functions, you're better expressing your intent by giving it a name.