Not a particularly good trailer, but that might be good. The first 2 X-Men trailers were awful, and both movies turned out great. The Spider-Man trailers were excellent, and the movies were very disappointing. I don't think Singer will disappoint, and all the elements seem to be there, the trailer just seemed oddly disjointed, particularly how it breaks its own momentum. Both Lois and Clark look great, though, as does the overall style, and the controversial changes to the Superman costume seem less apparent when he's not posing.
I like the scene with Lex playing a bit zany, and then suddenly turns seriously menacing. Seems like a subbtle way of saying that it's still in Superman The Movie continuety, but expect a few surprises.
Lois having a kid with the X-Men's Cyclops is seriously weird, though. That's what has me most concerned, but also quite intrigued.