I liked it. It was more enjoyable than most reviews I read gave it credit for. It wasn't 'great' but I knew that going in. It was worth the money and time. Great effects, great fights, and some very creative methods of enacting vengeance.
There could have been more dynamic tension. This is true of most good films; more tension would have likely made them great films.
What bugged me was the 'leading lady'. She didn't fit in at all during any part of the film. I could have done with an Olga Kuryenko replacement and it would have made a big difference.
If you like good old Sword & Sorcery, go see it. If not, wait 'til DVD.