the best ico's in my opinion is the ones that have a whitepaper you can actually understand.
i see so many ico's over complicate their whitepaper which makes me lose interest in the project.
Oh yes, I totally agree!!
I would also add that it would be good to find the competitive benefit of the proposed solution together with clear explanation of the source of margin besides a plain speculation with issued coins... so if they fail in showing it, I never bring them my penny
In addition to white paper, it is also very important to study the team that deals with the development of the project, white paper is the whole document but the project will be developed by people. Also, the manager who follows the project will be equally important.