"the over-the-top, pantomime 'Master' is very annoying"
I can only assume that you think John Simm is horrid as the Master in the new series. There's no comparison in terms of "OTT" and "pantomime" in the generally innacurate way people seem to use these terms. Actually I find Ainley nothing short of magnificent in this one. The Master never was meant to be a stark hard villain. The man wears black, calls himself the Master and completely overrates himself in comparison to the Doctor.
He's been very wrongly described as the Moriarty to the Doctor's Holmes. Wrong, he's the Fu-Manchu to the Doctor's Nayland Smith, the Yosemite Sam to the Doctor's Bugs Bunny and Lex Luthor to the Doctor's Superman. All a bit nutty and OTT. A Moriarty he is not.