Swore I wasn't going to watch it to begin with, but found myself with a couple of unspoken for hours, so fired it up.
Yikes. McGregor's character was totally cartoonish and ridiculous. He would walk around with his arms out like he was Popeye. Acting? Not in the least.
The fight scenes outside the octogon were extremely unrealistic. Dojo techniques in a street/bar fight. They don't work. Looked horribly unrealistic here.
Follows the original's storyboard nearly frame by frame. You could go through and look at a character and say "Ok, s(he) is supposed to be X (from the first film) and that person would practically recite the lines from the first movie.
A lot of the scenes were blocked almost identically to the original, right down to dialogue and gestures by the characters.
If they could've gotten this all in for an hour 20, maybe. But at over 2 hours? Use your time more productively and get a colonoscopy.