First and foremost... The problem with the movie: Timing. Editing. Things being rushed.
For the most part, that is it.
It is a big problem, but it is the only significant one I really have.
The movie left me wanting to see more, in a semi-sweet way. Despite what many probably thought going in, Reynolds does a fantastic job as Hal Jordan. Mark Strong's Sinestro completely owns the few scenes he is in. And Peter Sarsgaard took a really uninteresting character from the comics and made him really compelling with his portrayal of Hector Hammond. He is so damn good at weirding the audience out, I love it.
The effects were much better than the trailers might have led you to believe. I really, really dug the suit (and even the mask) with the finished CGI. Some of the space scenes are simply dazzling, though it is a shame that you don't get to explore this scenery as much as your mind is asking to. While I know that 3D has always been heavily debated around here, I do encourage people to see this in 3D while they can, because it really does look good and makes the movie that much more fun.
And "fun" is a good way to describe the film. The ring construct battles kept my mind racing with thoughts like "Wow... How would I have countered that move?" It is a shame I didn't get to see as many of these sequences as I might have liked by the end of it, but, with this unsatisfied hunger, I also felt a sense of promise. It leaves me thinking "Just imagine how amazing this action can become after this origin story is complete." I mean, Hal is just learning how to do the whole hero thing. I think it would be a tragedy if a sequel is not made. You see, for me, as a fan of the comics, I can fill in the blanks here. I know what all this training means and why Hal's origin is important. However, the general audience doesn't have that background knowledge. They probably walk away saying "So he's a superhero now... So what?" In that aspect, it fails to deliver. But I think that the second chapter can really present some redemption for the franchise. I just hope it gets that chance (and judging by the awesomely blatant foreshadowing in this movie, we will see a sequel).
The world behind this character is gigantic, and fitting it all into a 2-hour tale is a very ambitious task. Especially when the filmmakers set out on a stern voyage to keep it faithful to the source material. Unfortunately, that difficult balance between proper editing and fanboy faith was not quite found... but I applaud the effort that director Martin Campbell put forth. It could have been a lot worse, and he has set up quite a canvas for whomever steps in to direct the sequel.
This is about as "comic book" as a comic book movie can get. So go in looking for classic superhero fun, and please keep in mind that this is all just the humble beginnings of a much more interesting story. The ending even suggests that the next movie will be all about the incredible intergalactic aspect of this universe.
I give it two and a half stars out of four. It's not bad... in fact, it is very enjoyable at times (especially for geeks like me), but it lacks the resonance that it sets out to instill in the general audience.