This film points out how Hugo Chavez of Venezuela is erroneously called a "dictator" by the media, and particularly points out how naive the Fox News network is. The morning show, in particular, is full of fools and I am glad to see them called out here.
The film is also interesting in showing a very human side to South American leaders, with Chavez riding a kid's bike, and Evo Morales of Bolivia playing soccer. Particularly lucid is Rafael Correa of Ecuador, who explains his stand against foreign bases very clearly in terms that no reasonable person could reject.
The film is "plagued by the same issues of accuracy that critics have raised about" Stone's non-documentaries, according to Larry Rohter of the New York Times. Tariq Ali, one of the writers, admits that the film is "opinionated" and Stone himself has gone on record as saying he was not aware of certain facts that may have changed the tone or content of the film.
However, Stone did also write a lengthy letter to the New York Times, expanding on issues and citing references to refute Rohter's claims. While, in the end, how you want to interpret the film is up to you, I think by and large it is accurate, even if rosy. It is, if nothing else, a nice balance from the typical coverage of Latin America.