As an independent period flick, the movie supports a decent set and accurate costumes. The acting is, more or less, well done (Ewan McGregor is, as usual, brilliant, Carmen Chaplin made a smashing debut, and the rest of the cast was easy to watch).
The plot of the movie, however, must be watched carefully, or you'll miss the subtle dynamics of the characters, and the beautiful undertones of the themes. If you go into it with expectations, you'll be disappointed. While the main love story is not at all original, I can't see this movie being a box-office hit, or at all popular with main-stream viewers.
I guess the main thing you need to know when going into this movie is, while the plot is an important factor, the real reason I would give for watching it is to see the wonderful way the characters interact with each other. Like so many independent films, The Serpent's Kiss relies on its script and characters more than events and elaborate sets.