I thoroughly enjoyed the movie. I was never expecting a masterpiece but rather a movie that was faithful to the source material and presented in a way that was worthy of the big screen. The story wasn't the best and Cole Young was definitely the weakest point for me of all the characters. With that said, the outworld - earth realm battle is still the central story line, as it it should be. Joe Taslim was perfect as Bi-Han and the action sequences were pretty good, not great when comparing it to other great martial arts movies of recent time. But when Taslim & Hiroyuki Sanada fight, it's as awesome as it should be, considering the chracaters they are playing.
Special mention goes to Kabal. I loved how he was portrayed and keeping the relationship with Kano was definitely something that was enjoyable.
My one absolute serious gripe with the movie is the fact that they had two guys fight in the pit(perfectly recreated by the way so kudos to them on that) but not use the stage fatality. Missed opportunity there.
In the end, it was an enjoyable action romp, story wasn't the best but it was still a fun movie that stayed faithful to the source material, a lot more than most.