It's a shame no animated series ever came of this... nice action, dork protagonist who's obviously a Spider-Man expy (though more annoyingly awkward), and a delightfully campy Nicolas Cage at his best. The magic system is also pretty cool, and the quasi-scientific approach to sorcery reminds me of what the MCU has done with Doctor Strange (I don't feel guilty for mentioning the MCU in a review for a Disney movie). Alfred Molina looks like he's having more fun as a villain than in the decidedly melodramatic Spider-Man 2.
The list of cons is short. Dave Stutler, our resident geek hero, barely participates in most of the action. That honor instead goes to Balthazar Blake, who steals the show to the point you find it hard to believe Dave is really supposed to be the most powerful sorcerer on Earth. Once again, it's clear a continuation was being arranged for, and the crew cut corners while taking a sequel for granted. Monica Bellucci is mostly useless, but that's been the case for nearly forever.