By the time I'd seen episode 62, I'd figured out what Eriol was doing: helping Sakura have meaningful chances to use - and therefore convert - the entire collection of cards. (Taper confirmed that guess, BTW.) Episodes 68 and 69 were, effectively, a two-parter that contained the final battle, and unlike the end of the first story arc, it was quite a bit more satisfying and convincing. I do feel like it's come to a close, now.
(Aside: Where the ^%^&$*%^ did they get Eriol Hiragizawa as a name for an English kid?!)
I was mildly surprised they left the relationship between Li and Sakura where they did; it's not completely resolved, the only thing in the storyline that isn't.
That must be the hook on which they hung the second movie, as there's no reason to believe that magic will even be needed in the future.
I haven't yet watched either movie. I'll probably watch the first one in a little while; the second will wait till tomorrow. I probably should have watched the first one after episode 36, since that's when it appears in the timeline, but didn't realize that until I'd gotten to episode 61 or so, and by then it was too late.