(FORTUNE Magazine) – The personal-computer industry used to make great software: fast, intuitive, well-integrated programs. Recently I've discovered that the software I use--the stuff that is installed on my personal computer, not the stuff that I get from the Web--really sucks. The situation will only get worse: Software companies seem to have decided that fixing and upgrading their products is neither useful nor profitable.

They're not entirely to blame; all of Silicon Valley is shunning this sector. As a reasonably successful venture capitalist, I run away from any company making new client software because getting customers to install and test it is so hard. Big software companies are having trouble keeping their best and brightest focused on PC software because talented programmers would rather work on the cool stuff: Web-based applications. Those programs are easier to maintain, more challenging to build, and use newer tools and techniques. Microsoft is a problem too: Windows makes installing adjunct products pretty difficult, and those who try to make add-on software don't feel they have a clean shot at competing with the monopolist (that's what the judge called it!).

Let me tell you about three incredibly frustrating experiences I've had recently.

--In August, Microsoft's Internet Explorer invited me to upgrade to version 5.5. Pretty cool: The program let me know when I could get the latest version. I downloaded and installed the software and restarted my computer, as instructed. Result: My computer became inoperable. It was so inoperable I couldn't even turn it off. That was Sunday afternoon. It took a day to get it working again. As you might imagine, I haven't tried to upgrade Internet Explorer again; I wonder occasionally what cool new stuff I'm missing (but not too frequently, since most of the time I still use Netscape Navigator) and when I might feel safe trying that upgrade again.

--Over the past six months or so I've used a free program called Adobe ActiveShare to manage my digital photographs. (Don't get me started on the problems associated with digital photography--that's a whole other column of whining.) I thought the idea of ActiveShare was pretty cool: Adobe offers a free, simple, basic program that automates the processes of editing, sharing, and printing. The company hopes that people using the software will enjoy it so much that they'll pay for one of Adobe's more sophisticated programs, PhotoDeluxe or PhotoShop. But Adobe is misguided. ActiveShare is so bad that it backfires: I don't want any more of the company's software. Nevertheless, as a service to you, dear reader, I did buy a copy of PhotoDeluxe Home Edition; I installed the software, and found that it does use the same album format as ActiveShare (wonders will never cease). But it's a different program, which will take several months to learn. If I decide to invest the time and find that it's useful, I'll report back to you.

--I've been using Intuit's Quicken program for about six years and have upgraded regularly--most recently, nine months ago, from Quicken 98 to Quicken 2000. Ever since, I've been wondering why I upgraded. Quicken 2000 takes two to three times longer to open than its predecessor; the simple checkbook takes as much as a full minute to open. (I've timed it.) What do you get in return for a much slower program? I haven't been able to figure that out. Intuit modified the user interface--I think it wanted Quicken to look more like a Web program--but didn't go all the way. Some screens look like the old Quicken 98, and some look more like Web pages. The net effect is that there are a lot of features in the program that I haven't found and am scared to try for fear that I will mess up my financial data.

I'm desperate for someone to reproduce Quicken as a Web application and improve it by hooking it into my bank, credit card, and brokerage accounts. On the basis of Intuit's track record, I certainly don't think the company will figure out how to do that. Intuit has made some lame tweaks that allow you to look at your accounts in a single page, but it has not yet released a comprehensive Web application that would take the place of Quicken on your PC. I keep hearing rumors that Intuit is about to release a new, Web-based version of Quicken, and I've received a string of business plans from companies that propose a Web-based alternative. A couple might help users, but I don't see how a company in this field can build a winning business model.

PC software has gotten so bad that I'm beginning to wonder what will kill it first: handheld devices that give us access to all the data we need or the scarcity of skilled programmers. I just hope that real broadband access gets here before we all experience terminal PC rage. Anyone else feel like storming Intuit's headquarters?

STEWART ALSOP is a partner with New Enterprise Associates, a venture capital firm. Except as noted, neither he nor his partnership has a financial interest in the companies mentioned. He can be reached at alsop_infotech@fortunemail.com. His column can be bookmarked online at www.fortune.com/technology/alsop.