I want to start by saying that Will Smith did an admirable job stepping into a role that was designed for the late Robin Williams. The scripted jokes were delivered well, but weren't a match for Genie's previously ad-libbed charm.
However, I did not agree with the changes to Princess Jasmine's character or that of the villain Jafar. Princess Jasmine in the animated version never wanted to be Sutlan, she simply wanted to marry someone who loved her for being herself and not be bought like some trinket. The new song given to her character has a great message for anyone who feels like their voice is being drowned out, however I didn't think it was necessary. As for Jafar, nothing against the actor, I don't know if it was the script or the direction he was given, but I wouldn't have let him in the front door of my home, let alone make him second in command of Agrabah. The animated villain was charming and manipulative, he could talk his way in and out of any situation. The live action Jafar was very aggressive and angry all of the time, which made it hard to believe he was 2nd only to Sultan.
On a positive note I did feel that the movie did justice to Abu and Carpet's characters. I also liked the personality tweaks the made to the Sultan.
All in all the movie was only passably good for me, but it wasn't great like I have come to expect Disney movies to be.