It has been said that it was both good and bad. On the one hand, there was a great deal of freedom previously unknown. Property was given to the church as some pagan facilities were made churches.
The state began to assert its influence in ways that were often carnal. Laws against the Jews and eventually heretics came about. For Christianity to flourish, there should be no coercion. People should have some freedom to walk according to their conscience (if it doesn't harm any other) and some tolerance for doctrinal variance is healthy.
So the state exerts influence. His sons weren't quite the believers he was and for some time carnal influence began to prevail more and more in the church. It's as though it was a "service" to provide the church by exerting temporal authority.
A little "pomp" and financial privilege entered in. You could stand to benefit socially by being a Christian, as the emperor was. I'm sure people "joined the church" who were not spiritually reborn.
It has been suggested that Constantine used the church to his own advantage, playing both the pagans and Christians at the same time. His coinage reflected both "churches". It was commonplace for people not to be baptized until before their death, because it was believed that baptism thoroughly cleansed you from all sin. Their faith was misplaced.
I still think it was better to be able to spread the message without being in fear of your life (or at least having to be ready to die all of the time). We're blessed to do that now in America. But when church and state become linked, it does seem to cause problems.
The Edict of Milan, Constantine, March 313
"It seemed to us that, among those things that are good for mankind in general, the reverence paid to the Divinity deserved our first and chief attention, and that it was proper that the Christians and all others should have liberty to follow that mode of religion which to each of them appeared best; so that that God who is seated in heaven, might be kind and helpful to us, and everyone under our government.
And therefore we judged it a good measure, and one consistent with good judgment, that no man should be denied the right to practice the rites of the Christians, or to whatever other religion his mind directed him, that thus the supreme Divinity, to whose worship we freely devote ourselves, might continue to extend his favour and goodness to us.
And accordingly we give you to know that, without regard to any provisos in our former order to you concerning the Christians, all who choose that religion are to be permitted, freely and absolutely, to remain in it, and not to be disturbed in any way, or molested.
And we thought it fit to be thus special in the things committed to your charge, that you might understand that the indulgence which we have granted in matters of religion to the Christians is ample and unconditional.
And perceive at the same time that the open and free exercise of their respective religions is granted to all others, as well as to the Christians; for it befits the well ordered state, and the tranquillity of our times that each individual be allowed, according to his own choice, to worship the Divinity; and we mean not to take away from the honor due to any religion or those it honors.
Moreover with respect to the Christians, we formerly gave certain orders concerning the place appropriated for their religious assemblies; but now we declare that all persons who have purchased some places, either from our treasury or from anyone else, must restore them to the Christians, without demanding payment of any kind, and that this be performed immediately and without dispute.
. . . And that the spirit of this our gracious order may be known unto you all, we declare that you cause it by your authority to be published everywhere."