I really enjoyed it. I know Frank Miller himself has become... let's say "a little right wing"... in recent years, and I agree with a lot of the criticisms levelled at it re: racism, dodgy parallels with the War On Terror... the inherent Fascism is, though, part and parcel- the Spartans DID pretty much worship strength and despise weakness, they DID kill the weak and crippled babies, and you can't blame the movie for that.
I loved it, though. To be honest, the bits they added that weren't in the comic (all the "meanwhile in Sparta politics" stuff) broke the flow for me, and weren't particularly well-done, either, though the Queen of Sparta is one of the coolest people to appear in a movie EVER...
But it was great. As I said upthread, it's one of my favourite stories ever, and this was a pretty damn good telling of it.
Oh, and for whoever said it wasn't one for the ladies- I went with a bunch of people. The one girl present enjoyed it more than the rest of us, I think... all the oiled buff bodies really seemed to float her boat, as it were. As she said when we were leaving, "I wish they could CGI stuff like that in real life..."