Since this topic is again a bit of a talking-point, I will (again) quote some words of Cardinal Ratzinger, which seem to me the most remarkable observation made on Papal powers - by someone who subsequently became Pope - for well over a thousand years.
After the Second Vatican Council, the impression arose that the pope really could do anything ... especially if he were acting on the mandate of an ecumenical council ... In fact, the First Vatican Council had in no way defined the pope as an absolute monarch. On the contrary, it presented him as the guarantor of obedience to the revealed Word. The pope's authority is bound to the Tradition of Faith ... Even the pope can only be a humble servant of its lawful development and abiding integrity and identity ... The authority of the pope is not unlimited; it is at the service of Sacred Tradition.
Since this is how Benedict XVI sees papal power, how can any catholic-minded person have any objection to it?