Labyrinth + CGI Pan - David Bowie in tight trousers + violence x Franco's Spain =
I saw Mark Kermode raving about how good it is, on TV, before Christmas. I probably would have enjoyed it a whole lot more if he hadn't raised my expectations. Also, I thought it followed the archetypical faerytale / Vladimir Propp pattern a bit too religiously at times, but that's a minor criticism.
All in all, I did enjoy it a lot. The setting was intriguing and the CGI didn't look out of place, when it was used. In fact, the dreamlike quality of the whole film stayed with me for a day or two afterwards -- sitting in the pub, after the film, I kept expecting strange creatures to emerge out of the woodwork and doorways to open in the shadows! No film has had such an imaginative effect on me, since childhood, to be honest.
I can live without Hellboy and Blade 2, though...