It's certainly got some flaws, but at its good points it was so strong that I'd rate it at about an 8. That said, this is coming from a very angry, liberal, 18-year-old American who worships Orwell and enjoys comic books and the first Matrix movie, so I actually like V for Vendetta like a 9. Of course, somebody who doesn’t share my interests could easily hate it.
I saw this on the IMAX this weekend, and I really enjoyed it. I was a huge original Matrix fan, and I was thinking of skipping this one since the Wachowski brothers produced it, and I'm still bitter over the suckfest (IMO) that was Matrix Revolutions. Vendetta was the Entertainment Weekly cover story a few weeks ago, and that article piqued my interest in this movie again.
I enjoyed the swordfighting scenes, the political aspects, and was extremely impressed with the plot twists. Loved Hugo Weaving's silky voiceover as V. I wish Stephen Rea's character had been developed a bit more, and I would have enjoyed a more detailed account of the events at Larkhill.