How odd - I thought it was truly, truly terrible. It was almost a satire of spy movies, but not an intentional one (see also Ronin). I've blocked most of it out now, so I can't remember many specifics.
Maybe at the ripe old age of 38, I am getting too old for this kind of Hollywood film. America produces some brilliant movies - last year's Eternal Sunshine was IMHO one of the greatest films ever made. But I can't remember the last blockbuster I saw that wasn't disappointing... can it really be the original Matrix?!! Hold on, lemmie check the DVD shelf... Lord of the Rings and The Incredibles were superb, Pirates of the Carribean was fun, so maybe I'm not too old. Think, again, IMHO, that there are just a lot of bad movies out there...