I personally think that verse is wonderful. It's one of the more difficult things to put into practice, though.
But it makes sense. What good is it going to do to carry the weight of hatred on your shoulders? The wicked will be wicked, and it shouldn't manifest hate in your own heart. Pray that they may find God and peace. After all, when you have pure love in your heart it will naturally spread to others. It is the same with evil. No need to contribute more evil to this world than there already is.