I just watched this on DVD last night, having seen it in the theatre. I was very disappointed when I watched the scenes that had been cut, as they fleshed out the story a lot more than the final cut. You learned more about the wasp creatures near the end of the film and why Dooku enlisted their help. Padme's character was a lot more established as well in visits to her parents house and in a confrontation with Dooku.
Many people have commented on the wooden acting of the two leads, which I somewhat agree with, but Christensen is not that bad an actor, and neither is Portman.
The problem with both this film and Phantom Menace is Lucas' dialogue. He writes lines which no actor, even in a fantasy movie, can say without sounding like they're reading them off of cue cards. This can be excused when the line is SF technobabble, but when it's supposed to be intimate romance it comes off as clumsy, forced, and utterly unbelievable. Considering that we KNOW the ultimate fate of each of these characters, these make scenes where they are put in peril uninteresting, since you already know they'll survive. Lucas really blew the chance at creating highly developed, memorable characters in my opinion.
In addition, both this and Phantom Menace sorely miss a solid supporting cast to the two cardboard character leads. Where is the Han Solo/Chewbacca/Lando of these movies? Watching the original trilogy, the chemistry between Han and Chewie gives the movies a much broader appeal than the soap opera Skywalker saga. Imagine the original trilogy with only Luke and Leia as the two main characters -- it'd be far less interesting!!!
Ewan McGregor is given a lot more to do in this film as Obi-Wan, and he acquits himself very well, although I think the scenes on the clone world would have been much better if he had been accompanied by Mace Windu. We almost always see Jedis travel in pairs, until Kenobi's solo visit. Christopher Lee does well in the limited screen time he's given. Samuel L. Jackson gives a one note performance as Mace Windu ... we're never convinced that he's as powerful a warrior as he's said to be. And when a CGI Yoda is the most expressive character in the film, you know something's just not right.
Lucas has really painted himself into a corner to deliver the goods in Episode III. In my opinion, to tie up all the loose ends he's created between Phantom Menace and this film, Episode III might have to be 4 hours long.
In summary, this is a decent film for fans of the Star Wars saga, and certainly better than Phantom Menace, but it still doesn't break much new ground. Compared to the colorful entertaining space opera of the first trilogy it's rather dull and predictable. Hopefully Episode III will give Star Wars fans a movie that can be held up to the high standards of the originals.
