Just got back from seeing it. The theater wasn't an IMAX, but a digital "mega-screen". The room was about 3/4 full. The audience contained some teens, mostly parents and kids.
Hmmm...well, somebody here mentioned that the animated 2-D beginning was the best part of the film...and I have to concur. Not that the CGI was lacking in any way...the quality was superb. (Pixar-superb? Don't be silly). But as I watched the "oh WOW' opening, and then sat through the rest of the film, I came to this conclusion: that CGI, no matter which movie studio employs it, has a sterility that no amount of planning, writing, computer know-how or pixels can overcome. The 2-D opening was so vivid, so gorgeous, so full of immediacy, humor and life, such a visual delight, that the rest of the film never recovered from it. Now I love CGI and 2-D. But I've come to the regretful conclusion that CGI cannot supplant the older art. It is its own artform. And if it has one flaw, it is: too much information. Visual information that is more distracting than not. It tries too hard to imitate real life in a way that 2-D never even attempted. That is its strength...and its flaw.
Anyway, as for my overall appraisal of the film...well, Po the panda is adorable, no doubt about it. Jack Black does a creditable job as the bulgy bear's voice. But the real voice star is Dustin Hoffman. He is superb. He takes the timeworn role of oriental master and gives it a fresh energy. The other voices...serviceable. I do wish Jackie Chan had gotten more lines. He is as much comic actor as he is martial artist. (I've always felt he'd been a far better Mushu in Mulan than was Eddie Murphy). The character design was lovely, although it again had a certain sterility. There are some great fight scenes and some funny moments. But the film dragged here and there. The kids in my theatre got very restless in some parts. And the final confrontation between the panda and the snow leopard is certainly...vigorous. And yet, it's very unsatisfying mostly because...what the heck happened to the leopard? That is never made clear. Did he vaporize? Did he disintegrate? Did he run away? We don't know. We are told that he was "defeated". And that's it.
And you know what that means. I see a franchise ahead. Everybody duck.