Should a story make you feel warm and happy that the villain has died and our hero lives happily ever after or should it rip your emotional body apart making you want to crawl into a corner and cry why?
I think a good story should make you feel every emotion. You should be in the book mentally and not want to put it down until you reach the end. It should also contain some kind of political or social message however subliminally. For me - to read is to think.
I think a good story should affect you. affect you strongly and sake your core, your mind, your soul, your heart, your beliefs. It should have a profound affect on you. life changing even.
Depends. Some cases it should make you feel happy. Other cases it should be a little depressing. Sometimes, the story requires a bit of both.