It was pretty damned poor. David Goyer, as director, failed as a visual stylist (especially in comparison to Steven Norrington and Guillermo del Toro, his direct predecessors in the chair). His action sequences smack of warmed-up Wachowski-isms (slow-mo, rapid edits cut to techno, etc). The miscasting of the movie must get the hackles up of any old TOMB OF DRACULA fans: the guy cast as Drac has a neck wider than his bleedin' head, the dude playing Hannibal King grates every time he opens his damned trap and spouts another vulgar "witticism". Ugh.
This could be the movie that starts what might be known in the future as "Marvel movie syndrome": promising first movie, superior sequel, franchise-endingly dismal third flick. Watch out for X-MEN 3 and SPIDER-MAN 3, kids.