It's interesting to see ratings from 1 to 10. I'm not a fan of Rob Reiner, as he often posts ignorant, offensive, non-factual items (no journalistic ethics present). But he can direct films pretty well. (A+ for Spinal Tap)
I saw this movie years ago and watched it again yesterday. Despite one major flaw (more later), I think it's great. Not only did my kids love it in the 1990s, my grandsons love it now. Maybe the critics who panned it should try watching it with kids.
I won't repeat the plot because 1) other reviewers did that; 2) it's not that important - each scenario can stand alone.
I enjoyed it as taking a wild ride with Bruce Willis and Elijah Wood - both were excellent. But just as great was the performance by a slew of top echelon stars (George & Elaine from Seinfeld, Alan Arkin, Reba & Dan Ackroyd, Jon Lovitz, Kathy Bates, and many more). Although each of these had no more than 5-10 minutes of screen time, their performances were memorable.
For the Ebertesque reviewers - lighten up. Humor, even stereotypical in nature, can be hilarious. Another reviewer pointed out the similarities to Monty Python shows - I'll bet those same reviewers didn't get that humor and hated it too. People who enjoy seeing everything as offensive will only like boring, PC movies and books. Dull.
As for what I considered the major flaw (and lowered my rating by one) -- the ending. Any movie that spends 90+ minutes enveloping audiences in a story, then bails out by making it all a dream, is disgusting. A fantasy is demeaned when it's turned into a dream.